Adeer International, partners target $2bn in hospitality investments in Egypt

Adeer International, the overseas investment arm of Saudi Arabia’s Sumou Holding Group, has joined Hassan Allam, MIDAR for Investment and Urban Development, and Sumou Investment to pursue hospitality developments in Egypt. The partners plan to invest around $2 billion as Adeer expands its presence in the country. The proposed projects could strengthen Egypt’s hospitality sector and highlight investment ties between Egypt and Saudi Arabia.

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