Palm Hills, Egypt’s main actual property developer, has introduced a strategic partnership with Saudi Arabia’s Dallah Actual Property, a significant actual property arm of the Dallah Al Baraka Group, bringing collectively a mixed expertise of over 30 years in actual property growth, development, and concrete planning.
This partnership, revealed at Cityscape 2024 in Riyadh, goals to remodel neighborhood dwelling in Saudi Arabia by specializing in built-in residential and mixed-use developments, in addition to strengthening the Kingdom’s academic infrastructure.
The signing of the partnership settlement was attended by distinguished figures from each firms, together with Engineer Maged Sherif, CEO of Palm Hills in Saudi Arabia, and Mr. Saleh Abdullah Saleh Kamel, representing Dallah Actual Property, together with govt leaders. Below the phrases of the settlement, Palm Hills will maintain a 60 % stake within the new three way partnership, with Dallah Actual Property holding the remaining 40 %.
Increasing Group and Training Objectives for Saudi Imaginative and prescient 2030
On the core of this partnership is the mission to develop absolutely built-in communities all through Saudi Arabia, advancing a shared imaginative and prescient for a extra related and inclusive city panorama.
One of many main initiatives beneath this partnership is the institution of 15 worldwide faculties over the following decade, designed to raise academic requirements and infrastructure and contribute to a better high quality of life throughout the Kingdom. This give attention to academic infrastructure, which goals to diversify the financial system, elevate the standard of life, and foster neighborhood growth.
This three way partnership goals to leverage the in depth experience of Egypt’s Palm Hills and Saudi Arabia’s Dallah Actual Property to create fashionable communities that prioritize accessibility and livability.
Along with residential and academic initiatives, the partnership will increase into development, specializing in creating vibrant, inclusive communities throughout Saudi Arabia.
A Rising Position for Egyptian Builders in Saudi Arabia’s Actual Property Sector
The partnership between Palm Hills and Dallah Actual Property represents Palm Hills’ intention to play a pivotal function in Saudi Arabia’s formidable actual property growth.
Palm Hills is certainly one of Egypt’s main actual property builders, boasting a portfolio of greater than 38 initiatives throughout West Cairo, East Cairo, Alexandria, and the North Coast. Recognized for its holistic strategy to sustainable dwelling, Palm Hills is behind the formidable Badya Metropolis, Egypt’s first sustainable and good metropolis that spans over 3,000 acres and aligns with the United Nations Sustainable Growth Objectives (UNSDG).
Palm Hills can also be a vital participant in schooling, exemplified by its growth of Badya College in collaboration with the College of Texas Medical Department and a 29.5 % stake in Taleem Training.
