Cairo – 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. The Alliance aims to explore the possibilities of integration and partnership in the upcoming period, reaching a common ground for developing various real estate projects (residential, commercial, administrative, hotel, sports, etc.) across Egypt and KSA.

The announcement was made during a 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 executive’s leaders from both companies and a number of media figures.

The alliance validates Melee's significant capability to provide a unique real estate product, allowing 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.

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. The alliance and partnership 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 and partnership, 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."

The alliance and partnership 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.

About Sumou Holding Company

Sumou Holding Company is a globally recognized institutional investor that fosters growth in strategically important sectors for the local and global economy. Officially established in 2008, the company has since gained a significant market reputation as a highly successful holding company based in the Kingdom of Saudi Arabia with investments exceeding SAR 60 Billion. Sumou Holding Company combines international expertise, local market knowledge, and capital to enhance business growth in regional markets. We have experience in forming alliances of capital and talent and enhancing investment mechanisms in response to regional opportunities, in line with the Kingdom's Vision 2023 and meeting the requirements of future generations.

About Adeer Holding Company

Adeer Holding Company, a part of the Sumou Holding Group, focuses on the marketing and real estate investment sector in the Kingdom. The company has succeeded in strengthening its presence and affirming its position as a leading player in this vital sector by offering an integrated real estate service system. Its success in marketing and selling numerous large-scale projects and organizing high-level real estate auctions stems from its extensive experience. Adeer relies on a national workforce characterized by passion, willpower, determination, and innovative thinking, earning trust from its clients and making it the first choice for investors, businessmen, and real estate development companies. Adeer Real Estate aims to continue its successful journey by enhancing its capabilities and harnessing all its resources to ensure the continued excellence and development of this domestic entity, reflecting on the company's clients and achieving its goals.

About Melee:

Melee is a pioneering company, established in 2023 in partnership with Al-Ahly Sabbour Company, the leading real estate company in Egypt and the Middle East, Mr. Gasser Bahgat, a real estate development specialist, and other partners Melee focuses on developing commercial, administrative, sports facilities, hotels, and entertainment projects with a dedicated team of professional experts and talented fresh and young teams, aiming to create functional and aesthetically appealing spaces for the Egyptian market that meet the evolving needs of companies and communities.

About Adeer International:

Adeer International is a subsidiary of Adeer Holding, which is owned by Saudi-based Sumou Holding Group. Adeer International was established to serve as a gateway for facilitating mutual investments between Saudi Arabian investors and the global market. It supports various investment opportunities and provides worldwide real estate services. Adeer International distinguishes itself through its global presence, with offices located in the United Kingdom, the Arab Republic of Egypt, and Malaysia, to support its investors.