Saudi investment fund Asl Holding has acquired Alkayan Technical Alarabia and Zurich Developments, marking a new phase of expansion for the group in Egypt’s real estate market.
The acquisition will support Zurich Developments’ expansion plans. It also brings together Asl Holding’s investment capabilities and Alkayan’s execution expertise across multiple development sectors.
The transaction reflects Asl Holding’s strategy to capitalize on Egypt’s real estate opportunities. The company also plans to expand its operations and increase investments in the Egyptian market during the coming period.
Saudi Investment Supports Zurich Developments’ Expansion
The acquisition marks a new phase for Zurich Developments.
Asl Holding will support the company with Saudi-Egyptian investment expertise and capabilities. Meanwhile, Saudi-based Alkayan Technical Alarabia will add its execution capabilities.
This integration will support Zurich Developments as it expands its existing portfolio. It will also help the company develop new projects in strategic locations across Egypt.
Haitham El-Sherbiny, Chairman of Asl Holding and Chairman of Zurich Developments, described the acquisition as a strategic step in the company’s growth journey.
He said Asl Holding’s entry as a Saudi investor strengthens Zurich Developments’ investment capabilities.
The company will use these capabilities to accelerate expansion. It will also focus on delivering value-added real estate projects across the Egyptian market.
Growing Saudi Confidence in Egypt’s Real Estate Market
El-Sherbiny said the acquisition reflects growing Saudi investor confidence in Egypt.
He highlighted Egypt’s strong demand and diverse investment opportunities. He also pointed to major national projects and robust infrastructure.
Together, these factors support long-term urban and real estate growth.
Zurich Developments enters its next growth phase from a strong position.
The company has a strategic land bank and a diversified project portfolio. More than 80% of the land value has already been paid.
This provides the company with greater financial strength and flexibility.
It also supports the execution of future projects while maintaining a strong focus on delivery.
According to El-Sherbiny, project delivery remains essential to building customer and investor confidence.
Zurich Developments Targets a Larger Investment Platform
The company’s strategy will extend beyond managing its existing portfolio.
Zurich Developments plans to build a larger and more diversified investment platform.
The company is also evaluating new expansion opportunities.
These opportunities must align with its investment strategy. They should also help unlock greater value from the company’s land bank and development projects.
Alkayan Strengthens Development and Construction Capabilities
Ahmed Attia, CEO of Asl Holding and CEO of Zurich Developments, said the acquisition opens new opportunities for growth.
Asl Holding will use its investment capabilities to support Zurich Developments.
The support will cover the completion of existing projects. It will also include exploring new opportunities in high-potential areas across Egypt.
Attia highlighted the addition of Saudi-based Alkayan Technical Alarabia to the new investment structure.
The integration creates stronger links across financing, development, and construction.
As a result, Zurich Developments expects to improve execution efficiency. The company also aims to accelerate project delivery while maintaining high quality standards and targeted timelines.
Zurich Developments Focuses on Long-Term Value
Attia said the company’s next phase will prioritize existing projects.
At the same time, Zurich Developments will explore expansion into new locations and markets.
The company also aims to build long-term relationships with customers.
Its strategy focuses on developing and delivering projects based on a clear vision and sustainable value creation.
The company therefore seeks to move beyond a strategy focused solely on sales and unit launches.
Attia said:
“The acquisition reflects the growing momentum behind Saudi partnerships and investments in Egypt’s real estate market.”
He added that the transaction provides a stronger investment and execution platform.
The new structure combines an established land and project portfolio with Saudi investment support.
It also gives Zurich Developments a platform for its ambitious expansion plans over the coming years.
Alkayan Brings 20 Years of Execution Experience
Saudi-based Alkayan Technical Alarabia is an integrated services group established more than 20 years ago.
The company has a team of more than 520 professionals.
It has also built an execution track record spanning 28 projects.
Its experience covers several sectors. These include retail, mixed-use developments, healthcare, education, hospitality, and residential projects.
This experience provides the new entity with an additional execution foundation.
It will support Zurich Developments as the company expands its activities in Egypt.
Asl Holding Builds a Diversified Egyptian Portfolio
Following the acquisition of Zurich Developments, Asl Holding’s Egyptian portfolio comprises seven projects.
The portfolio includes four projects in the Delta region under Zurich Developments.
It also includes two projects in the Fifth Settlement of New Cairo.
In addition, the company owns WAVES in New Damietta.
WAVES is a mixed-use development that includes administrative, commercial, and medical activities.
The portfolio also includes Al Rayan, a project dedicated to medical activities.
New Mansoura Projects Expand the Portfolio
In New Mansoura, Asl Holding’s portfolio includes MIRAL.
The mixed-use development combines residential and commercial components with serviced apartments.
The portfolio also includes Al Rayan 2, a medical center.
Together, these projects reflect the company’s focus on developing diversified real estate products.
The strategy targets demand across Delta cities and other high-potential locations.
New Cairo and Sheikh Zayed Projects
Asl Holding also owns two projects in the Fifth Settlement, New Cairo.
The land for both projects has received the required ministerial approvals.
This approval paves the way for the completion of the necessary procedures.
The company can then begin development in line with its investment plans.
The portfolio also includes a mixed-use commercial, administrative, and hotel project in Sheikh Zayed City.
Through this expanding portfolio, Asl Holding aims to strengthen its presence in Egypt’s real estate market.
The acquisition of Alkayan Technical Alarabia and Zurich Developments provides another step in that strategy.
It combines Saudi investment capabilities with development and execution expertise.
For Zurich Developments, the new structure creates a platform for expansion, new projects, and long-term value creation across the Egyptian market.
