The partnership aims to establish a joint venture focusing on construction and real estate investment, developing integrated urban projects and tourist resorts in KSA using the highest international standards
Real estate developer, Tatweer Misr, recently announced a new strategic partnership, part of their efforts to expand in the region, with KSA’s Naif Alrajhi Investment, one of the country’s largest companies operating in real estate, financial markets, partnerships, and acquisitions.
The partnership aims to establish a joint venture focusing on construction and real estate investment, developing integrated urban projects and tourist resorts in KSA using the highest international standards.
Naif Saleh Alrajhi, founder and CEO of Naif Alrajhi Investment, and President and CEO of Tatweer Misr, Ahmed Shalaby, signed the contract in a ceremony in Riyadh.
The agreement includes establishing projects that offer a high quality of life and a range of services, including operation and community management, with the goal of supporting Egypt and the KSA’s real estate development process by establishing residential, commercial, administrative, educational, entertainment, and hospitality projects.
Al-Rajhi and Shalaby both expressed their enthusiasm about the partnership. Al-Rajhi emphasized the economic and urban growth in the Kingdom, along with the investment advantages and incentives it offers to Arab and foreign investors, while Shalaby explained that this partnership is the company’s first step in expanding into the regional markets.
