As part of a shared regional vision, PARAGON | ADEER, the Egyptian-Saudi alliance combining global-standard development with real estate investment, announced the launch of Sumou Boulevard Mixed Use Development, the renewed urban destination in New Cairo, during a celebration attended by a distinguished gathering of leaders. The project emerges as one of the Middle East’s premier mixed-use destinations, reflecting the alliance’s commitment to delivering a comprehensive development model that aligns with the aspirations of modern cities and meets the needs of the next generation.
Sumou Boulevard Mixed Use Development is located in the heart of Mostakbal City in New Cairo—one of the fastest-growing urban areas in Egypt and the most attractive for regional investments, reflecting investors’ confidence in the Egyptian market and its long-term potential. Sumou Boulevard is not just a mixed-use development; it is a vibrant urban ecosystem designed to serve people, enhance quality of life, and provide Cairo with a comprehensive renewal platform capable of nurturing ambitions and innovations.
Mr. Abdulrahman bin Ayed Al-Qahtani, Managing Director of Sumou Investment, said: “Our entry into the Egyptian market today, represented by Adeer International, was not a casual decision; it is the culmination of a carefully considered strategic assessment of a promising economic landscape, and a firm belief that Egypt possesses the fundamentals that make it an unmissable investment destination in the region.
“Our true success is measured by what we leave behind — a lasting impact on communities and a solid mark on the path of urban development. It is from this belief that Sumou Boulevard was born — a project that carries more than a name; it carries a message: excellence in development standards, excellence in quality of life, and excellence in placing people at the heart of the city. We are building a shared future where two visions converge into one ambition — making Sumou Boulevard more than just a real estate project; it is a cornerstone of the Egyptian-Saudi partnership, a partnership we believe has the power to redefine the contours of development in the region.” He added.
Eng. Baseel El Serafy, Vice Chairman of PARAGON | ADEER, described the vision driving this partnership, stating: “The partnership between Adeer International — the investment arm of Sumou Holding — and Paragon Development within Paragon Adeer is founded on the principle of integration. This alliance combines the diverse expertise and shared visions of both parties to create sustainable value that benefits society and supports the economy. Today, we operate in the Egyptian real estate sector, which is expected to grow from $20 billion to over $33 billion by 2029 — and Sumou Boulevard Mixed Use Development is a key contributor to this future. We are establishing a new development model that blends sustainability, innovation, and economic value, with total investments estimated at approximately EGP 70 billion (equivalent to $1.4 billion), reflecting investor confidence in the Egyptian market and its long-term potential. We are proud of this milestone, which we consider the beginning of a path we hope to replicate in future projects that deliver more vibrant and sustainable cities.”
In the same context, Eng. Bedeir Rizk, CEO of PARAGON | ADEER, commented: “At Paragon | Adeer, true development goes beyond constructing buildings; it is about creating revitalized urban systems that place people at the center. The spaces where we live and work shape our ambitions, our relationships, and our way of life — and it is from this principle that Sumou Boulevard was conceived. Spanning a strategic area of over 500,000 square meters within Mostakbal City, the project is not merely a residential or commercial destination; it is a comprehensive renewal ecosystem that integrates living, working, culture, and entertainment into a unified urban rhythm. Through a design vision that combines technological innovation, sustainable urban environments, and cultural experiences, we aim to develop a holistic ecosystem that supports a more balanced and higher-quality lifestyle. Implemented in phased stages, our development plan seeks to generate sustainable value, providing direct and indirect employment opportunities. This makes Sumou Boulevard a dynamic urban platform that attracts talent, supports the national economy, and offers a new model that redefines the relationship between people and the city.”
This partnership represents a strategic step in strengthening Egyptian-Saudi collaboration in the urban development sector through the creation of integrated and sustainable renewal ecosystems. With the launch of Sumou Boulevard Mixed Use Development, the shared vision for next-generation cities comes to life — emphasizing innovation, sustainability, and the comprehensive enhancement of city quality of life.
الرابط المختصر: https://propertypluseg.com/?p=171341
