Saudi real estate investor Sumou Holding is in preliminary talks to acquire Egyptian developer Midar Investment and Urban Development, Al Arabiya Business reported, citing unnamed sources familiar with the matter.

Adeer International, a subsidiary of Sumou Holding Group, teamed with Egypt’s leading mixed-use developer PARAGON Developments and MIDAR to launch a joint development entity

Saudi Arabia's premier real estate enabler and investor Sumou Holding is planning to establish the first real estate fund in Egypt

Sixth of October Development and Investment Company (SODIC) plans to develop an integrated urban project in partnership with MIDAR

Emaar Misr for Development inked a strategic partnership agreement with MIDAR for the New Mivida residential project, with investments amounting to EGP 100 billion

MIDAR has inked a memorandum of understanding (MoU) with Saudi Arabia’s Sumou Investment, ADEER International, and Hassan Allam Holding to invest $2 billion into Egypt’s hospitality and leisure sectors.

Midar Investment and Urban Development is on the verge of finalizing two contracts with Gulf investors to develop two large-scale projects, each spanning 1,500 feddans, a company official told Asharq Business.

Madinet Masr has signed a contract with MIDAR for Investment and Urban Development to develop an integrated residential project under the revenue-sharing system in the fourth phase of Al Amal Axis in Mostakbal City.

Hassan Allam Properties (HAP) has acquired a new land plot at MIDAR’s Mostakbal City for a mixed-use development project in East Cairo.

The Sovereign Fund of Egypt (TSFE) is planning to float shares of MIDAR for Investment and Urban Development on the Egyptian Exchange (EGX) within the first half (H1) of 2024.

Egyptian real estate developer MIDAR for Investment and Urban Development is currently in advanced talks with Gulf investors over selling plots of land in US dollar.