Saudi Arabia’s Adeer International is leading a $2 billion investment push into Egypt’s hospitality sector through a strategic alliance with Hassan Allam, MIDAR for Investment and Urban Development, and Sumou Investment, targeting opportunities in one of the Middle East’s largest tourism and real estate markets.

The investment plan was announced at a media briefing in Cairo, where the company outlined its Egyptian portfolio, development partnerships and expansion strategy.

The proposed projects mark a significant step in Adeer’s efforts to deepen its presence in Egypt while broadening its international real estate and hospitality investments.

Saudi capital targets Egypt

Bassel El-Serafy, founder and CEO of Adeer International, said the company entered Egypt after assessing its economic prospects, investment opportunities and real estate market development.

The latest alliance builds on that assessment, bringing together Saudi investment capital and established Egyptian development groups to pursue hospitality projects.

Adeer’s international expansion strategy aims to extend its presence to 35 countries by 2035. The company currently operates across several markets, including the United Kingdom, Egypt, Malaysia, Indonesia, Turkey and Switzerland, as it seeks to expand its investment portfolio beyond Saudi Arabia.

Partnerships drive expansion

Ahmed Helmy, Adeer International’s chief investment officer, said the company signed strategic agreements in 2024, including a partnership with Hassan Allam Properties to develop a mixed-use project in East Cairo.

It also partnered with Melee Developments, a subsidiary of Al Ahly Sabbour, to expand its real estate activities in Egypt and Saudi Arabia.

Helmy said Adeer’s investment model covers the full development cycle, from identifying opportunities and assessing financial feasibility to managing risks, execution, marketing, sales and property management.

The company also relies on market research and analysis to evaluate investment conditions and adjust its strategy as market dynamics change.

A growing international portfolio

Adeer International operates as the global investment arm of Saudi Arabia’s Sumou Holding Group, which was established in 2008 by Dr. Ayedh Al-Qahtani.

The international business began expanding overseas in 2021, starting with the United Kingdom, where it has since built a portfolio with £625 million ($841 million) in assets under management.

Its investments in the British market have included an Amazon logistics center, a FedEx warehousing facility and properties affiliated with Corinthia Hotels in London.

The portfolio reflects Adeer’s focus on commercial real estate and income-generating assets as it pursues opportunities across international markets.

Egypt portfolio gains scale

Adeer began its Egyptian operations with Adeer Plaza in Sheikh Zayed City, which officially opened in 2024.

The company subsequently expanded through partnerships, including a collaboration with Paragon Developments and MIDAR on Sumou Boulevard in Mostakbal City, a mixed-use development with estimated investments of EGP70 billion ($1.2 billion).

The planned $2 billion hospitality investment adds another dimension to Adeer’s Egyptian strategy, extending its ambitions beyond commercial and mixed-use real estate.

The scale of the proposed alliance positions Egypt as a major market in the group’s international expansion, with hospitality development expected to play a central role.