{"id":101386,"date":"2025-10-13T00:00:00","date_gmt":"2025-10-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/13\/sumou-holding-eyes-egypts-state-linked-developer-midar\/"},"modified":"2025-10-13T00:00:00","modified_gmt":"2025-10-13T00:00:00","slug":"sumou-holding-eyes-egypts-state-linked-developer-midar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/13\/sumou-holding-eyes-egypts-state-linked-developer-midar\/","title":{"rendered":"Sumou Holding eyes Egypt\u2019s state-linked developer Midar"},"content":{"rendered":"

Real estate investor <\/strong>Sumou Holding<\/a><\/strong> is in preliminary discussions to acquire Egypt\u2019s <\/strong>Midar Investment and Urban Development<\/a><\/strong>, an Egyptian government source told EnterpriseAM. The potential acquisition of the state-affiliated developer could reportedly be worth USD 3.5 bn, Al Arabiya<\/a> reports, citing an unnamed source.<\/p>\n

Midar?<\/strong> The Egyptian 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 Administrative Capital.<\/p>\n

Sumou is no stranger to Egypt \u2014 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<\/a>. 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>, while the two companies are also partnering on a EGP 70 bn mixed-use project<\/a> in Mostakbal City.<\/p>\n

Sumou is also looking to set up its<\/strong><\/a><\/strong>first real estate fund in Egypt<\/a><\/strong> and funnel SAR 2 bn into<\/a>the local real estate<\/a>market over the next five years<\/a>. <\/p>\n

Unconfirmed reports out just yesterday also claim the two will invest USD 2 bn in s<\/strong>ix <\/strong>Downtown Cairo hotels as part of a wider consortium<\/strong>, with an official announcement and finalized details expected within a month, once legal procedures and land allocation are completed, Mubasher<\/a> reports, citing an unnamed source.<\/p>\n

The consortium is negotiating for land and assets for the project that are owned by the <\/strong>state<\/strong>, making it more than likely that the project is part of the Sovereign Fund of Egypt\u2019s plans to offer up<\/a> Downtown assets \u2014 including the Ministries Square area \u2014 to private investment. The fund\u2019s plans are part of the government assets privatization and redevelopment<\/a>, which follows the Egyptian government\u2019s relocation to the new capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sumou announced in September it plans to invest USD 2 bn in Egypt in the next five years<\/p>\n","protected":false},"author":1,"featured_media":101387,"comment_status":"","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":[2575],"tags":[10,14,106,2322],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-ma-watch","tag-real-estate","tag-sumou-holding","wpautop","entry"],"acf":{"mongo_id":"f9798969-443a-4e2b-8f5a-f1320c8fd63e","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/10\/545.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sumou Holding eyes Egypt\u2019s state-linked developer Midar","related_issue":[101381],"teaser":"Sumou announced in September it plans to invest USD 2 bn in Egypt in the next five years","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.99e7a474-8472-4aaf-9d2b-51c8c01078b6.mp3"},"yoast_head":"\nSumou Holding eyes Egypt\u2019s state-linked developer Midar - 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