Melee has announced the signing of a strategic alliance with one of the leading real estate companies in Saudi Arabia, Adeer International, a subsidiary of Adeer Holding Group and Sumou Holding.ย The alliance focuses on exploring the possibilities of integration and partnershipย in the upcoming period, reaching a common ground for developing various real estate projects (residential, commercial, administrative, hotel, sports, etc.) across Egypt and KSA.
Industry sources added that the announcement was made during the press conference held by both parties at the Four Seasons Cairo Hotel, where the alliance was signed by Mr. Gasser Bahgat, Chairman and CEO of Melee, and Engineer Basil Al-Sirafy, CEO of Adeer International, in the presence of top executiveโs leaders from both companies and a number of media figures.
In this context, Gasser Bahgat, Chairman and CEO of Melee, underlined the importance of this alliance for both sides, stating: “Proud of the collaboration with Adeer International for the second time as a new milestone towards our joint efforts to enhance the real estate industry in Egypt and KSA. Theย alliance and partnershipย with a significant entity like Adeer International underscores the great confidence in the ability of Egyptian companies, represented by Melee, to enter into major alliances and participate in the development of large-scale projects, thanks to our extensive experience in the real estate field and a comprehensive understanding of the market’s requirements and needs. Hopefully, this alliance will enhance the cooperation between Egyptian and Saudi businesses and support Egypt’s plan to draw more foreign direct investments, boosting the Egyptian economy by bringing more hard currency into the country.”
Eng. Bassel Al-Sayrafi, CEO of Adeer International, expressed his optimism about the alliance andย partnership,ย reporting: “Our new collaboration with Melee is a testament to our ongoing commitment to excellence and innovation in the real estate sector. We are confident in our ability to create competitive real estate projects locally and globally across Egypt and the Kingdom, through the mutual understanding between the two parties and efforts to provide diverse real estate products capable of achieving significant investment returns.”
Industry sources added that the alliance validates Melee’s significant capability to offer a unique real estate product, permitting it to carve out a distinct niche among Egyptian companies that can export their creative concepts and philosophies beyond Egypt’s borders. Melee has left a distinct mark on the market in a short time through its diverse projects, drawing the interest of numerous large companies who want to form alliances and take advantage of Melee’s ability and expertise in creating high-end real estate products that mirror the growth in the Egyptian real estate industry.
Industry sources further confirmed that the alliance andย partnershipย between Melee and Adeer International is a glaring demonstration of the two businesses’ dedication and goal to provide innovative and cutting-edge real estate products to the Egyptian and Saudi markets by fusing their vast experience and impressive track records in executing top-notch investment projects. Additionally, both parties aim to drive real estate development, boost economic growth in Egypt and KSA, and strengthen the long-standing Egyptian-Saudi relations through joint work between the two countries.
