Adeer International targets $2bn in Egypt hospitality investments
Saudi Arabia's Sumou Holding Group forms alliance with Egyptian partners for hotel projects.
Adeer International, the investment arm of Saudi Arabia’s Sumou Holding Group, has allied with Hassan Allam, MIDAR for Investment and Urban Development, and Sumou Investment to develop hospitality projects in Egypt. The group plans to invest approximately $2bn in these ventures. This alliance is part of Adeer International’s expansion strategy in Egypt, announced during a media briefing in Cairo.
Bassel El-Serafy, Founder and CEO of Adeer International, stated that the company entered the Egyptian market after assessing its growth prospects and real estate sector development. Adeer began operations in Egypt with Adeer Plaza in Sheikh Zayed City, which opened in 2024. The company acts as a strategic investment partner, bringing capital and expertise to develop opportunities through tailored partnerships.
Ahmed Helmy, Chief Investment Officer at Adeer International, noted that the company signed strategic partnerships in 2024, including an agreement with Hassan Allam Properties for a mixed-use project in East Cairo. In 2026, the company launched Sumou Boulevard in Mostakbal City, Sumou Investment’s first major project in Egypt. Sumou Holding Group manages SAR 55bn across 15 real estate funds.
Why it mattersInvestors in Egypt's hospitality sector face new competition and potential development from a Saudi Arabian investment group.