Omar Kassem Alesayi Investment Group has signed an agreement with Mountain View Egypt to set up a construction and real estate development joint venture company in Saudi Arabia, to create world-class integrated urban projects, and tourists’ resorts in the kingdom.
This comes in line with its efforts to contribute to development of the real estate as part of the Quality-of-Life Program, one of the Saudi Vision 2030 realization programs.
Considering the extensive experience that both parties have in the fields of investment and real estate development, this agreement aims to strengthen the cooperation and exchange of experiences between the two.
It also focuses on finding opportunities to develop joint innovative housing projects, such as real estate development, luxury residential projects, shopping centers and luxury hospitality. The agreement also aims to expand on promoting investments in the sector, inside the Kingdom.
The agreement was signed at a special ceremony in London in the presence of Alesayi Holding Group’s Member of the Board of Directors, Mohammed Omar Alesayi, and Mountain View Egypt Founder & Chairman, Engineer Amr Soliman, along with Alesayi Group CEO Engineer Hany Habashy and Mountain View Egypt’s Chief Investment Officer Ghada Nour.
Alesayi highlighted the importance of this agreement, considering its compatibility with the latest real estate trends in the Saudi market – one of the most promising future global markets among other vital sectors.
"Such collaboration will contribute to the development of new areas of economic activities, creating job opportunities, and advancing economic development; to play a part in achieving Kingdom’s Vision 2030, to increase the percentage of ownership of residential units to 70% over the next ten years," he noted.
On his part, Soliman said: "As one of the top real estate companies in Egypt, Mountain View Egypt’s strategy includes expanding to neighboring markets, to share its successful experience in establishing integrated urban projects based on the implementation of the “science of happiness” in the Middle East, to lead the way in the Egyptian real estate market."
"We signed this agreement with Alesayi Group, a leader in the real estate sector in Saudi Arabia to study the development of new projects in the Kingdom as one of the promising markets in the region," he stated.
"At Mountain View Egypt, we take pride in having developed 15 urban projects over the past 17 years since we started across Egypt, which earned the trust of thousands of customers thanks to their innovative and unique designs," he added.
Habashy said Alesayi Group works and invests in projects that add value to the national economy and contributes to improve the quality of life.
"Such a fruitful partnership with Mountain View Egypt, the leader in the real estate field in Egypt, reaffirms the group's focus on achieving sustainability for its real estate projects around the Kingdom, as a main axes in the Vision 2030, using the latest construction technologies and in cooperation with local and international professional expertise," he noted.
Nour said through this deal, Mountain View Egypt aims to take its expertise in developing major integrated real estate projects to neighboring regional markets in a way that contributes to promoting the Egyptian real estate sector, diversifying its project portfolio, and achieving appropriate returns of investment for the stakeholders.
"In this regard, Mountain View Egypt believes that the Saudi market offers investment opportunities that are in line with the company’s vision to expand abroad," she added.-TradeArabia News Service
