SNG: Adeer International, partners target $2bln in hospitality investments in Egypt

By Zawya21 hours ago Updated

By Staff Writer

Adeer International, the global investment arm of Saudi Arabia’s Sumou Holding Group, has formed a strategic alliance with Hassan Allam, MIDAR for Investment and Urban Development, and Sumou Investment to develop hospitality projects in Egypt, with planned investments of approximately $2bn.

The alliance is part of Adeer International’s broader expansion strategy in Egypt, as the company aims to extend its global presence to 35 countries by 2035. It currently operates in several markets, including the UK, Egypt, Malaysia, Indonesia, Turkey and Switzerland.

The company announced its plans during a media briefing in Cairo, where it outlined its investment activities in Egypt, key projects and strategic direction for the coming period.

Bassel El-Serafy, Founder and CEO of Adeer International, said the company entered the Egyptian market following an assessment of its growth prospects, investment opportunities and real estate sector development.

Adeer began its operations in Egypt with Adeer Plaza in Sheikh Zayed City, which officially opened in 2024. It subsequently expanded through partnerships, including its collaboration with Paragon Developments and MIDAR on Sumou Boulevard in Mostakbal City, a mixed-use project with estimated investments of EGP 70bn.

El-Serafy said Adeer International operates as a strategic investment partner rather than a real estate developer or broker, bringing together capital, expertise and execution capabilities to develop investment opportunities through partnerships and investment models tailored to each project.

He added that the company aims to facilitate international investment in Egypt and promote Egyptian real estate opportunities in overseas markets, while attracting foreign capital and supporting economic growth.

Ahmed Helmy, Chief Investment Officer at Adeer International, said the company signed strategic partnerships in 2024, including an agreement with Hassan Allam Properties to develop a mixed-use project in East Cairo, as well as a partnership with Melee Developments, a subsidiary of Al Ahly Sabbour, to expand its real estate activities in Egypt and Saudi Arabia.

In 2026, the company launched Sumou Boulevard in Mostakbal City, marking Sumou Investment’s first major investment in the Egyptian market, Helmy said.

He added that Sumou Holding Group considers Egypt a market with long-term growth potential, noting that the group manages SAR 55bn across 15 real estate funds.

Helmy said Adeer’s investment model covers several stages, from identifying opportunities and assessing their feasibility and risks to overseeing project execution, marketing, sales and management. The approach is supported by market research and analysis of changing market conditions, he added.

Adeer International was established as the global investment arm of Sumou Holding Group, which began operations in 2008, building on the growth of Adeer Real Estate in Saudi Arabia. Adeer Real Estate was listed on the Saudi Exchange in 2025.

The international arm began its overseas expansion in the UK in 2021 and has since grown its assets under management to £625m. Its transactions have included projects in London such as Amazon’s logistics centre, a FedEx warehousing facility and units affiliated with Corinthia Hotels.