{"id":673404,"date":"2025-10-12T00:00:00","date_gmt":"2025-10-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/12\/saudis-sumou-holding-mulls-midar-acquisition\/"},"modified":"2025-10-12T00:00:00","modified_gmt":"2025-10-12T00:00:00","slug":"saudis-sumou-holding-mulls-midar-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/12\/saudis-sumou-holding-mulls-midar-acquisition\/","title":{"rendered":"Saudi\u2019s Sumou Holding mulls Midar acquisition"},"content":{"rendered":"

Good afternoon, friends<\/strong>. Welcome to the start of a fresh new workweek \u2014 we hope your first day back after a long weekend hasn\u2019t been too jarring.<\/p>\n

\n

THE BIG STORY TODAY-<\/p>\n

Midar Investment and Urban Development<\/a><\/strong> is in preliminary discussions <\/strong>with Saudi real estate investor <\/strong>Sumou Holding<\/a><\/strong> over a potential acquisition<\/strong>, a government source told EnterpriseAM. The potential acquisition of the state-affiliated developer behind Mostakbal City could reportedly be worth USD 3.5 bn, Al Arabiya<\/a> reported citing a source it says has knowledge of the matter.<\/p>\n

Midar?<\/strong> The developer, whose backers include state-backed heavyweights Banque Misr, the National Bank of Egypt, the National Investment Bank, and Arab Contractors, is behind two major urban projects east of Cairo, Mostakbal City and Mada City, spanning a combined 11k acres near the new capital.<\/p>\n

Sumou is no stranger to Egypt, or Midar for that matter.<\/strong> It was announced just last month that Midar and Sumou Holding, via its subsidiary <\/a>Adeer International<\/a>, are part of a consortium looking into setting up a USD 1 bn Downtown Cairo redevelopment project. The same consortium is also working on hospitality and leisure projects along the Nile in Cairo and in Midar-developed new cities with investments of <\/a>USD 2 bn<\/a>. The two are also in discussions for Sumou's <\/a>first real estate fund in Egypt<\/a>, expected to roll out in 1Q 2026.<\/p>\n

\n

THE BIG STORY ABROAD-<\/p>\n

It\u2019s a busy afternoon in the global press, with all eyes on Gaza as the ceasefire <\/strong>appears to hold. <\/strong><\/p>\n

Dozens of trucks carrying aid are reportedly entering Gaza through the Rafah border <\/strong>with Egypt<\/strong>, in line with the implementation of the ceasefire agreement\u2019s first phase. While a surge in aid is yet to be achieved, major media outlets are reporting an increasing number of aid trucks. At least 600 trucks are needed daily to address the ongoing hunger and medical humanitarian crisis according to the UN. Thousands of Palestinians have begun moving north along the coast of Gaza to return to their homes. (BBC<\/a> | Guardian<\/a> | CNN<\/a> | Reuters<\/a>)<\/p>\n

MEANWHILE- Following Trump\u2019s threat to slap China with <\/strong>a 100% tariff<\/a><\/strong>, Beijing pledged countermeasures against the United States. \u201cIf the US persists in acting unilaterally, China will resolutely take corresponding measures to safeguard its legitimate rights and interests,\u201d a spokesperson for China\u2019s Commerce Ministry said earlier today. (CNN<\/a> | Bloomberg<\/a>)<\/p>\n

ALSO- Afghanistan said it killed 58 Pakistani soldiers and wounded 30 following <\/strong>firefights between the two countries overnight. <\/strong>The attack comes in retaliation for Pakistani airstrikes last week, the country\u2019s Defense Ministry said. Border crossings with Afghanistan were closed earlier today, according to Pakistani officials cited by Reuters. (Reuters<\/a> | Associated Press<\/a> | Financial Times<\/a>)<\/p>\n

\n
\n
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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n

\"enterprise\"<\/p>\n

*** It\u2019s Inside Industry day \u2014 your weekly Sunday briefing of all things industrial in Egypt.<\/strong> Inside Industry explores what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning through to product distribution, land allocation, industrial processes, supply chain management, labor, automation and technology, inputs and exports, and regulation and policy.<\/p>\n

In today\u2019s issue:<\/strong> We\u2019re taking a look at new investment windows across 28 priority sectors announced by the Industry Ministry in a bid to bolster local manufacturing.<\/p>\n

\u2600\ufe0f TOMORROW\u2019S WEATHER-<\/strong> We\u2019re in for mild weather tomorrow, with temperatures in the capital reaching a high of 29\u00b0C before further cooling down to 17\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, friends. Welcome to the start of a fresh new workweek \u2014 we hope your first day back after a long weekend hasn\u2019t been too jarring. THE BIG STORY TODAY- Midar Investment and Urban Development is in preliminary discussions with Saudi real estate investor Sumou Holding over a potential acquisition, a government source told […]<\/p>\n","protected":false},"author":1,"featured_media":673405,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[130,633,125,83,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-673404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-construction","tag-enterprisepm","tag-investment-watch","tag-real-estate","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"f830083a-2a66-44cb-828a-8f50144d1797","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/10\/545.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi\u2019s Sumou Holding mulls Midar acquisition","related_issue":[673402],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.54b0c113-3e07-48ab-a53d-959432879590.mp3"},"yoast_head":"\nSaudi\u2019s Sumou Holding mulls Midar acquisition - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/12\/saudis-sumou-holding-mulls-midar-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi\u2019s Sumou Holding mulls Midar acquisition\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends. 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years","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1709.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":659328,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/26\/hassan-allam-properties-midar-partner-with-saudis-sumou-for-cairo-hotel-and-entertainment-projects-totalling-usd-2-bn\/","url_meta":{"origin":673404,"position":1},"title":"Hassan Allam Properties, Midar partner with Saudi\u2019s Sumou for Cairo hotel and entertainment projects totalling USD 2 bn","author":"enterpriseam admin","date":"26 January 2025","format":false,"excerpt":"The investment targets hospitality and leisure projects","rel":"","context":"In \"EnterpriseAM\"","block_context":{"text":"EnterpriseAM","link":"https:\/\/enterpriseam.com\/egypt\/tag\/enterpriseam\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1764.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672071,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/18\/egyptian-saudi-consortium-mulls-usd-1-bn-downtown-cairo-redevelopment\/","url_meta":{"origin":673404,"position":2},"title":"Egyptian-Saudi consortium mulls USD 1 bn Downtown Cairo redevelopment","author":"enterpriseam admin","date":"18 September 2025","format":false,"excerpt":"The consortium includes Saudi\u2019s Sumou Holding and its subsidiary Adeer International and local players Midar and Hassan Allam","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/9\/1082.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583792,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/","url_meta":{"origin":673404,"position":3},"title":"THIS EVENING: Infinity Power closes its acquisition of 100% of Lekela Power +","author":"enterpriseam admin","date":"20 March 2023","format":false,"excerpt":"Good afternoon, ladies and gentlemen. We\u2019re officially in the final countdown to Ramadan, with reminders everywhere that we will soon part ways with our morning cup of coffee. Case in point\u2026PSA- The CBE just announced Ramadan working hours for banks: Bank employees will work from 9am-2pm, while customers will have\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/agreement-2-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":668916,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/23\/a-new-egyptian-saudi-egp-70-bn-real-estate-project\/","url_meta":{"origin":673404,"position":4},"title":"A new Egyptian-Saudi EGP 70 bn real estate project","author":"enterpriseam admin","date":"23 July 2025","format":false,"excerpt":"PLUS- Swiss, French players eye therapeutic nutrition manufacturing in Egypt","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1496.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547305,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/16\/more-good-news-maybe\/","url_meta":{"origin":673404,"position":5},"title":"More good news, maybe?","author":"enterpriseam admin","date":"16 June 2022","format":false,"excerpt":"The UAE\u2019s Aldar Properties is reportedly eyeing an acquisition of a majority stake in EGX-listed real estate developer Madinet Nasr Housing and Development (MNHD), Bloomberg reports, attributing the story to unnamed sources familiar with the matter.Madinet Nasr has yet to receive any formal offers on the matter, it said in\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/smoking-business1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/673404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=673404"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/673404\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/673402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/673405"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=673404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=673404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=673404"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=673404"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=673404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}