Adeer International, owned by Sumou Holding, studies nine investment opportunities, including potential partnerships for real estate development projects or purchasing lands in East and West Cairo, according to CEO Bassel El Serafy.
El Serafy told Daily News Egypt that Adeel will launch approximately four real estate projects, in collaboration with its partners in Egypt, by 2025.
Adeer also signed a partnership contract with Hassan Allam Properties to develop a major project in East Cairo, in cooperation with a government entity. The company is still awaiting approval for the land allocation.
Under its partnership with Egyptian real estate developer Melee, Adeer Holding and Melee Saudi Arabia plans to establish three clubs in Saudi Arabia at a total cost of SAR 1bn, according to El Serafy.
He added that the first club is expected to be located in the Eastern Province, in Al-Khobar, with an investment of approximately SAR 350m. The designated land for the club is under review. The project is anticipated to launch at the beginning of next year, with the second club planned for Riyadh and the third for Jeddah. Construction on all three clubs will commence sequentially.
Adeer International is also preparing to launch its first project in partnership with Melee before the end of the year. This will be a mixed-use development spanning 100 feddans. Additionally, the company’s third partnership is with Paragon Developments, which plans to launch an administrative project by the end of the year.
Regarding the collaboration between the two companies in Egypt, he clarified that Paragon Developments will launch an administrative and hotel project in partnership with Adeer, covering an area of approximately 60 feddans, with expected revenues reaching EGP 70bn.
El Serafy noted that Adeer developed its first project, Adeer Plaza, which includes 45 commercial units. The project, based on a usufruct system, was initiated in April 2023 and spans 45,000 sqm dedicated to rental purposes.
He also revealed an agreement with Saudi-based Areeb Capital, a company specializing in managing real estate funds, to establish Areeb Capital Egypt. This entity will handle investment fund management in Egypt in collaboration with Adeerr. Discussions are underway to determine each company’s stake in this venture, with a final agreement expected by year-end.
Adeer had previously collaborated with Areeb to establish a joint fund in Mecca valued at SAR 9bn, under the name Areeb Adeer Fund.
Adeer announced the establishment of several subsidiaries in Egypt. The company has already set up a firm to manage its projects and works on launching a large-scale marketing company and another specializing in investment portfolio management.
Adeer is a leading company in the real estate services sector, operating through four main arms: investment management, real estate marketing, real estate development, and portfolio or project management.
Sumou Holding’s real estate funds in the Saudi market have a combined value of SAR 37bn, distributed across 12 real estate funds.
Adair operates in multiple countries, including Egypt, Saudi Arabia, London, Malaysia, Indonesia, and Turkey. The company aims to invest EGP 5bn in Egypt by 2026.
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