7 hours ago
PARAGON Developments launches Saudi Arabia office in Riyadh, strengthening regional footprint across MENA
Cairo - PARAGON Developments, Egypt's leading regenerative mixed-use developer, announces the opening of its first regional office in Saudi Arabia in Riyadh. This strategic expansion reflects PARAGON's commitment to exporting its expertise while supporting local communities and cultures through human-centric design, enhanced well-being, and high environmental performance.
The announcement coincides with PARAGON's participation in the Nile Expo Real Estate Exhibition, one of the region's premier events, further reinforcing its commitment to meaningful collaboration within the real estate sector and the export of its regenerative development philosophy.
Saudi Arabia presents immense opportunities, with Vision 2030 driving strong demand for innovative, integrated real estate solutions and the development of modern economic cities. As the Kingdom cultivates mixed-use spaces and startup ecosystems, demand for high-performance, regenerative environments is rapidly growing. PARAGON's expansion aligns seamlessly with this transformation, bringing its expertise in human-centered, regenerative development to support these fast-growing urban centers and deliver interconnected ecosystems.
On this occasion Eng. Mohamed Bedeir Chairman of PARAGON Developments commented:
'At PARAGON, we bring over 35 years of integrated experience in real estate and design. Building on the success of PARAGON 1, PARAGON 2, and PARAGON 3 in Egypt, and our distinctive approach to interconnected mixed-use developments, PARAGON is set to deliver 360,000 sqm of mixed-use facilities in Saudi Arabia. Our first regional office signifies a crucial step in our commitment to seamlessly blend lifestyle, culture, well-being, business, and hospitality. This expansion is a strategic milestone in supporting Saudi Arabia's transformation, and we're proud to contribute to Vision 2030 with future-ready, high-performance spaces.'
Eng. Bedeir Rizk, CEO of PARAGON Developments added: 'The Saudi market offers immense potential for regenerative, human-centered development, and our presence here reflects our commitment to sharing our expertise and fostering collaboration in evolving interconnected mixed-use spaces across the MENA region. At PARAGON, we are planning to develop and manage 200,000 sqm of office space by 2027, with a target of 500,000 sqm by 2030 across key cities like Riyadh and Jeddah. This office expansion is more than just a growth milestone; it marks the beginning of a broader journey to actively contribute to a more holistic and regenerative future across the region as we also continue to explore opportunities in other dynamic markets.'
Ahmed Shaarawy, Commercial Vice President at PARAGON Developments, commented: 'Our participation in Nile Expo in Saudi Arabia comes at a pivotal moment for PARAGON, as we establish our regional presence and introduce our regenerative development model to a broader Gulf audience. The exhibition provides a valuable platform to connect with Saudi stakeholders, showcase our portfolio, and explore partnerships that align with our vision for mixed-use, future-ready spaces. Engaging with such a dynamic market through Nile Expo reinforces our commitment to collaboration and positions PARAGON as a key player in the Kingdom's evolving real estate landscape.'
This expansion underscores a strategic plan to identify growth opportunities across the Gulf countries and beyond Egypt. By consistently delivering future-ready, high-performance spaces built on the pillars of innovative design, vibrant community building, fostering innovation, and a commitment to sustainability.
About Paragon Developments:
Paragon Developments is a leading Egyptian developer with extensive experience and a proven track record of achievements. The company delivered its "Paragon 1" project in the Financial District of the New Administrative Capital, which will be up and running by 2025, with 80% of the project's sales coming from abroad, reflecting the company's strategic focus on attracting foreign investors and expatriates. Paragon has launched three projects in the Egyptian market with a total built-up area of 120,000 square meters, aiming to reach an underdevelopment area of 1 million square meters by 2025.
