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Egypt's Prime Minister Affirms Strong Support for Saudi Investment

H-Tayea Prime Minister Mostafa Madbouly welcomed a high-level delegation from Saudi Arabia's Sumo Holding Group during a meeting at the government headquarters in New Alamein City. The discussions focused on the group's investment plans in Egypt and reflected the Egyptian government's strong commitment to facilitating regional partnerships and creating a favorable climate for Gulf investors. The Prime Minister warmly greeted Dr. Ayed Al-Qahtani, Chairman of Sumo Holding, and his accompanying delegation, which included senior executives from Sumo Real Estate, Ader Real Estate, Ader Global, and Medar for Urban Development. He emphasized that Saudi investors are welcome in their second home, Egypt, and that all efforts will be made to offer them incentives, streamline procedures, and prioritize investment-related services. Madbouly noted that attracting foreign direct investment is a strategic priority for Egypt, and that Saudi investors are regarded as key partners in this vision. He also highlighted Egypt's support for the establishment of real estate investment funds, and praised the long-standing economic ties between Cairo and Riyadh. Referring to the bilateral agreement on investment protection and promotion, the Prime Minister confirmed that most of the long-standing issues facing Saudi investors have already been resolved, earning the appreciation of Saudi business leaders. Dr. Ayed Al-Qahtani expressed his appreciation for Egypt's recent progress, particularly in infrastructure development and the construction of new urban centers like the New Administrative Capital and New Alamein. He described Egypt as a promising market and announced that Sumo Holding is preparing to launch its first real estate investment project in the Egyptian market soon. He also stated that Sumo Holding, along with its listed subsidiaries Sumo Real Estate and Ader Real Estate, has already gained recognition as one of the largest property developers in Medina, Mecca, and other Saudi cities. The company specializes in establishing real estate investment funds accredited by Saudi capital market authorities and is now applying this expertise to its expansion strategy in Egypt. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks