Joint venture aims to expand the group’s investments in Egypt especially in the presence of opportunities in various fields
Eng. Abdulwahab AlRajhi, Chairman of AlRajhi Saudi Group
Choosing Akam was not randomly but due to a detailed study and conviction of its approach in real estate development
AkamAlRajhi is a new entity born giant and represents
a strong addition for both sides
Eng. Essam Mansour, Chairman of Akam Developments
The company’s first project will be in the North Coast and a start of a series of innovative projects
AlRajhi Saudi Group is the strategic and exclusive partner
of Akam in real estate developments in Egypt
Edris Mohamed, CEO of AkamAlRajhi
“Humanizing Real Estate” is Akam’s philosophy in real estate developments and building communities that give their residents happiness
In a step that emphasizes the strength and the great performance of the Egyptian economy and its ability to attract more foreign and Arab investments, Akam Developments and the AlRajhi Saudi Group launched AkamAlRajhi Developments company,in the presence of a number of officials in the Saudi government, the Egyptian-Saudi Business Council and Saudi businessmen, which happened in accordance with the massive urban development that Egypt is witnessing now, which makes it the most attractive for investments.
Eng. Abdulwahab Saleh AlRajhi, Chairman of AlRajhi Saudi Group, expressed in his speech during the press conference, his happiness for his presence in his second homeland, Egypt, and his new joint venture with Akam Developments, assuring that as Saudi businessmen, they are happy to have investments on its land, especially with the tremendous development Egypt is witnessing, under the leadership of President Abd El Fattah El Sisi, who paves the way for more investment opportunities and increases the chances of the Egyptian-Saudi partnership.
AlRajhi pointed that this new joint venture aims to expand the group’s investments in Egypt, in the presence of the opportunities the Egyptian market is witnessing, especially the real estate sector, which is witnessing a huge boom in mega projects as The New Administrative Capital, smart cities that are being implemented in various cities in Egypt, supported by the great development in infrastructure, which made Egypt an attracting point for all investments from various nationalities, and this is what made them invade the Egyptian real estate market and establish a new entity under the name “AkamAlRajhi”, with Akam Developments, which has great achievements and ambitious visions that aligns with their strategy and future goals.
AlRajhi added that their choice of Akam was not randomly but due to a detailed study and conviction of the company’s approach and vision in real estate development, which depends on a modern strategy that relies on innovation and seeking for quality of life for its clients and bringing them happiness, through deep market studies carried out by the company’s studies center, pointing that among the items that distinguished the company than others is the “humanization of real estate” approach which is represented in dealing with real estate and urban construction in very innovative and philosophical ways that depends on transforming the solid building to a society that radiates life and happiness and becomes a source of comfort for its residents, and this is what appeared clearly in Akam’s previous projects, which recorded great successes that enabled them to compete with major real estate companies, and this vision is what prompted them to complete this joint venture, which will make a turn out in the Egyptian market with a series of huge projects based on study and analysis of all clients’ requirements, which will make a major transformation in this market.
Eng. Essam Mansour, CEO of Akam Developments, said in his speech that launching the new company “AkamAlRajhi” is an important and significant turning point in Akam’s procession, expressing his pride by this new entity, which was born giant because it combines between AlRajhi Saudi Group with a long history and great position in the Arab market in various investment sectors, and between Akam Developments, which has an innovative vision in implementing projects that meet the clients’ needs, and adopts bringing happiness for its clients in its projects.
Mansour added that Akam relies in its strategy on an accurate study of the reality and developments of the Egyptian market and designing and implementing unique projects that meet the clients needs, and our strategy is also based on identifying problems and developing solutions before planning any project, and this is the key behind achieving this success, and we also rely on offering a real estate product that the Egyptian market has never known before, keeping pace with the new shift and the urban renaissance supported by the Egyptian state under the directives of President Abdel Fattah El-Sisi.
Mansour assured his confidence in AkamAlRajhi Company, and that it will provide the Egyptian market with a different product that meets the aspirations of their clients, revealing that the first fruitful result for this joint venture will be a giant project in the North Coast, and will be a starting point for a series of successes that meets the aspirations of two large entities raising the same slogan; happiness, quality of life and innovation, and able to win the confidence of clients in the Egyptian and Arab markets, and achieve great successes that add to the Egyptian real estate sector, and open the way for more partnerships between businessmen in both countries, not only in real estate, but in more sectors that meet the aspirations of the two nations.