Serrari Group

Egyptian Saudi Alliance to Boost Real Estate Development in Saudi Arabia

The Arab Organization for Industrialization (AOI) and a Saudi-Egyptian consortium, including Alupco “Olayan Group,” Okta International, and City Edge Developments, have signed a crucial Memorandum of Understanding (MoU) to support real estate projects in Saudi Arabia.

Key figures attending the ceremony included Saudi Ambassador Osama bin Ahmed Nugali, AOI President Major General Eng. Abdel Rahman Abdel Azim, and Embassy Commercial Attaché Anwar bin Hasusa.

Ambassador Nugali emphasized the importance of bilateral cooperation for economic prosperity, particularly through facilitating investment opportunities for Egyptian firms.

Eng. Abdel Azim expressed gratitude for the partnership and outlined plans for ventures worth $1 billion, aimed at generating employment and attracting investments in Saudi Arabia’s real estate sector.

The MoU signifies a joint commitment to advancing economic development in Saudi Arabia through strategic collaboration in the real estate industry.

This partnership promises transformative projects that will shape Saudi Arabia’s real estate landscape, ushering in a new era of growth and prosperity.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

21st February, 2024

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023