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Sumou the Saudi Real Estate Company and the Egyptian Hassan Allam Properties sign a memorandum of understanding

Story Highlights
  • Coordinated by ADEER International Egypt to establish a real estate development company in Saudi Arabia

Cairo: Aimed at unifying efforts and exchanging experiences in the real estate development sector, ADEER International Egypt, a subsidiary of ADEER Holding and Sumou Holding, facilitated an MoU signing between Saudi Sumou Holding and Hassan Allam. Representing Sumou Holding in the contract signing was Eng. Jarallah bin Mohammed Al Amrah, CEO of the group, while representing Hassan Allam Properties was Eng. Mohamed Medhat Allam, CEO of the Company.

The MoU is meant to be a window for exchanging experiences between the Egyptian and Saudi markets and global markets, and as a gateway to access the best investment opportunities. This is facilitated by the variety of services offered by ADEER International Egypt, as it is a real estate solutions provider and a gateway for exchanging real estate investments and experiences between different markets. The MoU also enables cooperation between the two companies to establish a joint venture dedicated to developing quality real estate projects in the Kingdom of Saudi Arabia and Egypt.

“This is an important regional cooperation to achieve development goals,” said Eng. Jarallah bin Mohammed Al Amrah, CEO of Sumou Holding. “We are confident that this alliance will enhance our ability to provide quality and sustainable projects that meet the aspirations of our clients in Saudi Arabia and Egypt.”

Eng. Mohamed Medhat Allam, CEO of Hassan Allam Properties, said “This cooperation will contribute to supporting the real estate sector in both countries and will open up new horizons for sustainable development.”

Engineer Bassel El-Serafy, CEO of ADEER International Egypt, said that this partnership is an opportunity to exchange visions and ideas about the future of the real estate sector in Egypt and Saudi Arabia, expressing his happiness with the new agreement, which is expected to contribute to enhancing investments in various markets in the real estate sector.

This step is considered a positive addition to the economic and commercial relations between the two countries and is expected to contribute to enhancing investments in the real estate development sector and achieving quality projects that meet the needs of the local and regional markets, offering distinctive and quality real estate products.


About ADEER International:

ADEER International Egypt is owned by ADEER Holding Company, A part of the Sumou Holding Group for investments in Saudi Arabia, established in 2008 to provide a wide range of innovative services in the real estate industry, adhering to international standards across all real estate sectors.

ADEER Saudi Arabia began its operations in 2012, initially focusing on providing integrated real estate solutions. Over the course of more than 10 years, it has achieved numerous accomplishments and record-breaking sales, earning the title of the best real estate company in the Kingdom in 2015 and 2022. Recently, ADEER expanded its operations to the UK market in 2022.

ADEER International Egypt headed to the Egyptian market in 2023 and proved its presence as a window for exchanging international investments and expertise with a group of distinguished deals that made it a different mark in the market, including the Paragon Real Estate Development for sustainable administrative buildings in Saudi Arabia, the acquisition of Shark Hub Egypt, and the ADEER Plaza project in Sheikh Zayed, Establishing the PropteX Fund for technology investment in the real estate sector, and launching the ADEER Lounge project.

ADEER International Egypt offers services in property portfolio management, sales, leasing, property and asset management, investment, brokerage, and real estate marketing. It has recently announced its entry into the Egyptian market and has plans for development and expansion within this promising market.

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© Press Release 2024


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