Egypt: PARAGON Developments opens its 1st regional office in Saudi Arabia
This strategic expansion shows PARAGON's commitment to spreading its expertise while backing local communities and cultures.
The announcement was made in line with PARAGON's participation in the Nile Expo Real Estate Exhibition, one of the region's premier events.
Mohamed Bedeir, Chairman of PARAGON Developments, commented: 'Building on the success of PARAGON 1, PARAGON 2, and PARAGON 3 in Egypt, and our distinctive approach to interconnected mixed-use developments, PARAGON is set to deliver 360,000 sqm of mixed-use facilities in Saudi Arabia.'
'Our first regional office signifies a crucial step in our commitment to seamlessly blend lifestyle, culture, well-being, business, and hospitality. This expansion is a strategic milestone in supporting Saudi Arabia's transformation, and we're proud to contribute to Vision 2030 with future-ready, high-performance spaces,' Bedeir added.
For his part, Bedeir Rizk, CEO of PARAGON Developments, added: 'At PARAGON, we are planning to develop and manage 200,000 sqm of office space by 2027, with a target of 500,000 sqm by 2030 across key cities like Riyadh and Jeddah.'
Meanwhile, Ahmed Shaarawy, Commercial, Vice President at PARAGON Developments, commented: 'Our participation in Nile Expo in Saudi Arabia comes at a pivotal moment for PARAGON, as we establish our regional presence and introduce our regenerative development model to a broader Gulf audience.'
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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