EDIC Development has signed a strategic agreement with Rabah Al-Khatib for the development of Al Sultan Residence project in Medina, marking the company\u2019s expansion into the Saudi real estate market.<\/p>\n
Dr. Amr Zaki, Chairman of EDIC Development, said that the project covers 35,500 sqm and features luxury residential villas along with commercial components within a mixed-use development aimed at creating integrated and sustainable communities.<\/p>\n
He added that the partnership marks a strategic starting point for expanding the company\u2019s regional footprint and building a more diversified investment portfolio across promising markets in the region.<\/p>\n
Zaki noted that the company is currently finalizing the project\u2019s design works in line with the latest international urban planning standards, ahead of launching the first phase in July, in response to increasing demand for high-quality residential projects in Medina.<\/p>\n
The company\u2019s chairman also stated that EDIC Development has an existing portfolio of projects in Egypt, including Clavel 1 and 2 in Sheikh Zayed, Celestia Mall on Dahshur Link Road, and DR5 Mall in New Cairo, highlighting its experience in managing and developing diversified real estate projects across different sectors.<\/p>\n
Hatem Adel, General Manager of EDIC Development, said that the expansion plan includes establishing sales offices in Jeddah, Riyadh, and Medina to strengthen the company\u2019s direct presence in the Saudi market and improve engagement with clients and investors, supporting faster execution and more effective marketing operations.<\/p>\n
For his part, Mr. Rabah Al-Khatib, Chairman of Rabah Al-Khatib, stated that the partnership represents an important step in strengthening Arab cooperation in the real estate development sector, said that both the Egyptian and Saudi markets are witnessing strong growth opportunities that require greater integration of expertise and investment exchange.<\/p>\n
Al-Khatib explained that cooperation with a developer that has a strong track record such as EDIC Development enhances execution quality and increases the project\u2019s investment value, added that the coming phase will see more diversified joint developments aimed at delivering real estate products aligned with the Saudi market\u2019s evolving needs and urban development plans.<\/p>\n
He concluded that the Al Sultan Residence project represents the starting point of a long-term investment cooperation model between both sides, based on developing sustainable projects with strong economic and urban returns, while also strengthening the role of Arab partnerships in the regional real estate development sector.<\/p>\n","protected":false},"excerpt":{"rendered":"
EDIC Development has signed a strategic agreement with Rabah Al-Khatib for the development of Al Sultan Residence..<\/p>\n","protected":false},"author":46,"featured_media":72578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[185,186,6329],"tags":[8362,8360,8363,8361],"class_list":["post-72581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-world","category-business","category-top-news","tag-develop-al-sultan-residence","tag-edic-development","tag-medina","tag-saudi-rabah-al-khatib"],"yoast_head":"\n