During his meeting with Prime Minister Dr. Moustafa
Madbouly, Al-Qahtani stated that the company is one of the largest real estate developers
and owns two subsidiaries, Sumou Real Estate and Adeer Real Estate, both listed
on the main stock market in Saudi Arabia. He noted that the group has strong
expertise in establishing real estate investment funds approved by the Capital
Market Authority and is currently working on launching a real estate fund in
Egypt. Sumou Real Estate and Sumou Holding are considered among the leading
developers in Medina, Mecca and other cities.
The group currently operates in eight countries and plans to
expand into 30 global markets. It is already present in Egypt through Adeer
Real Estate, and has previously partnered with several Egyptian companies in
Saudi Arabia.
Al-Qahtani confirmed the group's interest in investing in Egypt and announced plans to launch its first projects in the Egyptian market. He praised the government's recent achievements, particularly in infrastructure and the development of new cities including the New Administrative Capital and New Alamein.
He added that real estate investment funds are expected to
play a major role in transforming the investment landscape in Egypt, and
affirmed that the group will proceed in this sector based on its strategic
vision. The group is also considering investment opportunities in Downtown
Cairo, attracted by its strategic location and the ongoing development work in
the area, which enhances its potential as a global tourism destination.