Arab Finance: Madinet Masr inked a memorandum of understanding (MoU) with Waheej for Real Estate to explore creating a joint real estate development company in Saudi Arabia, according to a press release.

The deal aligns with Madinet Masr’s goals to strengthen its footprint in the Saudi real estate market, expand regionally, and explore new investment opportunities.

Madinet Mast will team up with Waheej, a licensed Saudi real estate developer, to exchange technical and financial expertise to establish residential, commercial, and administrative projects in the Kingdom.

This initiative comes within the framework of Saudi Vision 2030, supporting homeownership opportunities and enhancing quality of life for both citizens and residents.

Abdallah Sallam, President and CEO of Madinet Masr, said: "This partnership marks an important milestone in our expansion strategy across regional markets-particularly in Saudi Arabia, which is witnessing remarkable urban and economic growth."

On his part, Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate, commented: "Through this collaboration, we aim to exchange knowledge and deliver impactful projects that support the housing sector and contribute to the Kingdom's broader development objectives."

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