Collaboration Accelerates Regional Expansion Aligned with Saudi Vision 2030’s Housing and Economic Go
Madinet Masr and Waheej Sign MoU to Enhance Saudi Real Estate Market Presence
Madinet Masr (EGX: MASR.CA), a leading Egyptian real estate developer, officially signed a Memorandum of Understanding (MoU) with Waheej for Real Estate
a licensed Saudi developer, marking a significant strategic move toward regional expansion. The agreement was formalized at Waheej’s Riyadh headquarters by Eng
Abdallah Sallam, President & CEO of Madinet Masr, and Eng. Rashid Saud Al-Jadoua, CEO of Waheej
This MoU aims to develop and invest in residential, commercial, and administrative real estate projects across Saudi Arabia by sharing technical knowledge
financial expertise, and market insights. The collaboration directly supports the goals of Saudi Vision 2030 by promoting homeownership opportunities
and improving the quality of life for residents and citizens alike
Partnership Supports Saudi Vision 2030 and Regional Real Estate Growth
The strategic alliance between Madinet Masr and Waheej highlights a mutual commitment to advancing sustainable urban development in Saudi Arabia’s rapidly growing
real estate sector. By leveraging each party’s strengths, the partnership seeks to contribute to the Kingdom’s broader economic diversification and housing initiatives
under Saudi Vision 2030
Eng. Abdallah Sallam emphasized, “This partnership is a pivotal step in Madinet Masr’s regional growth strategy, particularly within the dynamic
Saudi real estate market. Collaborating with Waheej will enable us to deliver high-quality projects that align with the Kingdom’s urban development goals
Future Plans: Joint Real Estate Ventures in Saudi Arabia
The MoU also sets the groundwork for potentially establishing a joint real estate development company in Saudi Arabia. Each project will be governed
by separate agreements that specify the roles and responsibilities of both parties, ensuring clear operational frameworks and regulatory compliance
Eng. Rashid Saud Al-Jadoua stated, “Partnering with Madinet Masr brings invaluable development experience. Together, we aim to create impactful
housing and commercial projects that support the Kingdom’s vision for sustainable growth
