Madinet Misr and Wahij Real Estate sign a memorandum of understanding to enhance cooperation in the Saudi real estate market.

Madinet Misr (EGX code: MASR.CA), one of Egypt’s leading real estate developers, announced the signing of a Memorandum of Understanding (MoU) with Wahig Real Estate, a licensed Saudi real estate developer, as part of its regional expansion and new investment horizons. The MoU was signed at Wahig Real Estate’s headquarters in Riyadh.

The agreement was signed on behalf of Madinet Misr by Eng. Abdullah Salam, CEO and Managing Director, and on behalf of Wahig Real Estate by Eng. Rashed Saud Al-Jadoo, CEO.

The MoU aims to study and develop residential, commercial, and administrative projects in the Kingdom of Saudi Arabia through the exchange of expertise and technical and financial information. This aligns with the goals of Saudi Vision 2030 and enhances home ownership opportunities and the quality of life for citizens and residents. The signing of the MoU reflects both parties’ desire to build a promising strategic partnership.

Commenting on this step, Eng. Abdullah Salam, CEO and Managing Director of Madinet Misr, said: “This partnership represents an important step in our expansion plan in the region’s markets, specifically in the Kingdom of Saudi Arabia, which is witnessing a major urban and economic boom. We are proud to collaborate with Wahig Real Estate and look forward to turning this agreement into real and successful projects on the ground.”

For his part, Eng. Rashed Saud Al-Jadoo, CEO of Wahig Real Estate, said: “We are pleased to cooperate with Madinet Misr, which has extensive experience in real estate development. Through this partnership, we look forward to exchanging expertise and implementing various projects that contribute to supporting the housing sector and achieving the Kingdom’s comprehensive development goals.”

The memorandum stipulates the possibility of establishing a joint real estate development company in the Kingdom, provided that separate agreements are signed for each project, including clear commitments from both parties.

Madinet Misr and Wahig Real Estate Sign a Memorandum of Understanding to Enhance Cooperation in the Saudi Real Estate Market

Madinet Misr (EGX code: MASR.CA), one of the leading real estate development companies in Egypt, announced the signing of a memorandum of understanding with Wahig Real Estate, a Saudi real estate developer. The licensee, as part of its efforts to expand regionally and open new investment horizons, signed the agreement at the headquarters of Wahij Real Estate Company in Riyadh.

The agreement was signed on behalf of Madinet Misr by Eng. Abdullah Salam, CEO and Managing Director, and on behalf of Wahij Real Estate by Eng. Rashid Saud Al-Jadoo.

The Memorandum of Understanding aims to study and develop residential, commercial, and administrative projects in the Kingdom of Saudi Arabia through the exchange of expertise and technical and financial information. This is in line with the goals of Saudi Vision 2030 and enhances opportunities for home ownership and the quality of life for citizens and residents. The signing of the Memorandum of Understanding expresses the desire of both parties to build a promising strategic partnership.
Commenting on this step, Eng. Abdullah Salam, CEO and Managing Director of Madinet Misr Company, said: “This partnership represents an important step in our expansion plan in the region’s markets, specifically in the Kingdom of Saudi Arabia, which is witnessing a major urban and economic boom. We are proud to collaborate with Wahij Real Estate Company and look forward to turning this agreement into real and successful projects on the ground.
For his part, Eng. Rashid Saud Al-Jadoo, CEO of Wahij Real Estate Company, stated, “We are pleased to cooperate with Madinet Misr Company, which has extensive experience in real estate development. Through this partnership, we look forward to exchanging expertise and implementing diverse projects that contribute to supporting the housing sector and achieving the Kingdom’s comprehensive development goals.” The memorandum stipulates the possibility of establishing a joint real estate development company in the Kingdom, with separate agreements signed for each project, including clear commitments from both parties.