Sumou the Saudi Real Estate Company and the Egyptian Hassan Allam Properties sign a memorandum of understanding, coordinated by ADEER International Egypt to establish a real estate development company in Saudi Arabia

By Eman Hamed 

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.