Arab Finance: Saudi Arabia-based Adeer International is planning to invest $400 million in the Egyptian real estate market within five years, in partnership with Hassan Allam Properties (HAP) and Melee Development, Adeer International’s CEO Bassel El-Serafy told Asharq Business.
Additionally, Adeer International is looking forward to acquiring 50% of Melee Development via a capital increase, El-Serafy pointed out.
The Saudi firm is also in talks with three Egyptian real estate developers to implement new projects in the kingdom, he added.