Latest news with #WaheejforRealEstate
Daily News Egypt
15-06-2025
- Business
- Daily News Egypt
Madinet Masr, Waheej sign MoU to drive strategic expansion in Saudi Arabia
Madinet Masr, one of Egypt's leading real estate developers, has signed a Memorandum of Understanding (MoU) with Waheej for Real Estate, a licensed Saudi real estate firm, marking a key step in its regional expansion strategy and pursuit of new investment opportunities. The MoU was signed at Waheej's headquarters in Riyadh by Abdallah Sallam, President and CEO of Madinet Masr, and Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate. Under the agreement, the two companies will explore the joint development of residential, commercial, and administrative projects across the Kingdom of Saudi Arabia. The partnership aims to leverage shared technical and financial expertise, aligning with the goals of Saudi Vision 2030 to boost homeownership and enhance quality of life for citizens and residents alike. 'This partnership marks a significant milestone in our regional growth strategy, particularly in Saudi Arabia, which is experiencing unprecedented urban and economic transformation,' said Abdallah Sallam, President and CEO of Madinet Masr. Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate, commented: 'Through this collaboration, we aim to exchange knowledge and deliver high-impact projects that contribute to the Kingdom's housing sector and broader development goals.' The MoU also includes plans for the potential formation of a joint real estate development company in Saudi Arabia. Each future project will be governed by separate agreements detailing the scope and responsibilities of both parties. This partnership reflects a shared commitment to establishing a long-term, strategic relationship built on mutual understanding and full regulatory compliance.
Tahya Masr
15-06-2025
- Business
- Tahya Masr
Madinet Masr and Waheej for Real Estate Sign Memorandum of Understanding to Strengthen Cooperation in the Saudi Real Estate Market
Madinet Masr (EGX: one of Egypt's leading real estate development companies, announced the signing of a Memorandum of Understanding (MoU) with Waheej for Real Estate, a licensed Saudi real estate developer, as part of its strategy to expand regionally and explore new investment opportunities. The MoU was signed at Waheej for Real Estate's headquarters in Riyadh by Eng. Abdallah Sallam, President & CEO of Madinet Masr, and Eng. Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate. The MoU aims to explore and develop residential, commercial, and administrative projects in the Kingdom of Saudi Arabia by leveraging the exchange of technical and financial expertise and information. This initiative aligns with the objectives of Saudi Vision 2030 and supports homeownership opportunities and the quality of life for both citizens and residents. The signing of this MoU reflects both parties' desire to build a promising strategic partnership based on mutual understanding and full compliance with applicable regulations. Commenting on the partnership, Eng. Abdallah Sallam, President & CEO of Madinet Masr, said: 'This partnership marks an important milestone in our expansion strategy across regional markets—particularly in Saudi Arabia, which is witnessing remarkable urban and economic growth. We are proud to collaborate with Waheej for Real Estate and look forward to turning this agreement into tangible, successful projects on the ground." Eng. Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate, added: "We are pleased to partner with Madinet Masr, a company with extensive expertise in real estate development. Through this collaboration, we aim to exchange knowledge and deliver impactful projects that support the housing sector and contribute to the Kingdom's broader development objectives." The MoU outlines the potential establishment of a joint real estate development company in Saudi Arabia. Independent agreements will be signed for each project, clearly defining the responsibilities of both parties.
