{"id":98992,"date":"2025-07-23T00:00:00","date_gmt":"2025-07-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/23\/adeer-launches-new-egyptian-saudi-egp-70-bn-real-estate-project-with-paragon\/"},"modified":"2025-07-23T00:00:00","modified_gmt":"2025-07-23T00:00:00","slug":"adeer-launches-new-egyptian-saudi-egp-70-bn-real-estate-project-with-paragon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/23\/adeer-launches-new-egyptian-saudi-egp-70-bn-real-estate-project-with-paragon\/","title":{"rendered":"Adeer launches new Egyptian-Saudi EGP 70 bn real estate project with Paragon"},"content":{"rendered":"

Paragon, Adeer to develop EGP 70 bn mixed-use development in New Cairo: <\/strong>Adeer International \u2014 a subsidiary of Sumou Holding \u2014 and Egyptian property developer Paragon Developments have launched a joint development entity, which will work with Egypt\u2019s Midar to develop a EGP 70 bn mixed-use project in New Cairo\u2019s Mostakbal City, according to a press release (pdf)<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

What we know: <\/strong>The 500k sqm development will feature commercial, administrative, and hospitality components, and is being positioned as a smart, sustainable urban hub. The timeline of the construction and delivery was not disclosed.<\/p>\n

Paragon has a presence with the Kingdom: <\/strong>The Egyptian developer opened its first regional office in Riyadh last month<\/a>, aiming to deliver 200k sqm of office space by 2027, increasing to 500k sqm by 2030, in cities including Riyadh and Jeddah.<\/p>\n

More on Somou\u2019s first real estate investment fund in Egypt: <\/strong>Sumou Holding is looking to launch a USD 1 bn real estate fund in Egypt by late 2025 or early 2026, Chairman Ayedh Al Qahtani told Al Arabiya<\/a>, adding more color to comments he made to Egyptian Prime Minister Moustafa Madbouly<\/a> earlier this week.<\/p>\n

The company has been in talks with the Egyptian Stock Exchange for nearly two years<\/strong> on regulatory changes that would make it easier for foreign and local developers to establish such funds. Al Qahtani expects Saudi investors to make up 30-40% of the fund\u2019s investor base, with the rest split between Egyptians and other players.<\/p>\n

\n

\n

ALSO- <\/strong>Egypt\u2019s Mo<\/strong>un<\/strong>tain View is set to team up with Saudi companies to launch its <\/strong>second project in Riyad\u2019s Fursan district in the near future<\/strong>, the company\u2019s founder and Chairman Amr Soliman told Asharq Business (watch, runtime 08:19<\/a>) yesterday. Mountain View's first project in southern Riyadh \u2014 whose details were unveiled last November<\/a> \u2014 will kick off construction next year and is slated for completion within two years, Soliman stated. The project is being developed in partnership with local developers Maya Real Estate Development and Investment and Al Saedan Real Estate.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 500k sqm development will feature commercial, administrative, and hospitality components<\/p>\n","protected":false},"author":1,"featured_media":98993,"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":[2574],"tags":[3827,10,3826,56,2689,87,106,451],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-credit-agricole","tag-enterpriseam-ksa","tag-infinity","tag-insurance","tag-investment","tag-oil-and-gas","tag-real-estate","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"60fa1c00-d7fc-4034-afc5-9195fb591d5f","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/7\/1500.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adeer launches new Egyptian-Saudi EGP 70 bn real estate project with Paragon","related_issue":[98982],"teaser":"The 500k sqm development will feature commercial, administrative, and hospitality components","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.5cbc6537-e609-4f64-8a55-4238f835049f.mp3"},"yoast_head":"\nAdeer launches new Egyptian-Saudi EGP 70 bn real estate project with Paragon - 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