In an effort to contribute to the development of real estate, in line with the Quality of Life Program, one of Vision 2030 Realization Programs, Omar Kassem Alesayi Investment Group signed an agreement with Mountain View Egypt for development and real estate investment. The agreement is to form a joint venture company in the field of construction and real estate development in Saudi Arabia, to create world-class integrated urban projects, and tourist resorts.
The agreement was signed in London, in the presence of Mohammed Omar Alesayi, Alesayi Holding Group’s member of the board of directors, and Amr Soliman, Mountain View Egypt’s founder and chairman, along with Alesayi Group CEO Hany Habashy and Mountain View Egypt’s Chief Investment Officer Ghada Nour.
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 luxury residential projects, shopping centers and luxury hospitality. The agreement also aims to expand on promoting investments in the sector inside the Kingdom.
Alesayi highlighted the importance of the agreement, saying that it is in line with the latest real estate trends in the Saudi market — one of the most promising future global markets among other vital sectors. Such collaborations will contribute to the development of new areas of economic activities, creating job opportunities, and advancing economic development — all of which will in turn play a part in achieving the Kingdom’s Vision 2030 goals to increase the percentage of ownership of residential units to 70 percent over the next 10 years.
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.”
He added: “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 most promising markets in the region. At Mountain View Egypt, we take pride in developing 15 urban projects over the past 17 years since we started across Egypt, which earned the trust of thousands of customers thanks to our innovative and unique designs.”
Meanwhile, Habashy said: “Alesayi Group works and invests in projects that add value to the national economy and contribute 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 across the Kingdom, in line with Vision 2030, using the latest construction technologies and in cooperation with local and international professional expertise.”
Nour said: “Mountain View Egypt seeks to share its expertise in developing major integrated real estate projects to neighboring regional markets through signing this agreement with Alesayi Group, 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.”
She said the Saudi market offers investment opportunities that are in line with the company’s vision to expand abroad.
