Egypt, S.Arabia sign 4 investment deals in food, energy, real estate sectors

Egypt and Saudi Arabia signed four investment agreements on Sunday spanning food industries, solar energy, metal manufacturing, and real estate development, as the two countries deepen economic ties.

The deals were inked during the Egypt-Saudi Investment Forum in Cairo and witnessed by Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI).

The first memorandum of understanding was signed between Egypt’s Business City Group and Saudi Arabia’s GCC Capital Partners to promote investment in sectors including poultry farming, agri-food processing, private education, and real estate. The agreement also includes plans to boost Egyptian exports to international markets.

A second deal, signed by Saudi Arabia’s ASAS Services Company and Egypt’s ALCOTECH Engineering Industries, involves the construction of a factory to produce aluminum cladding panels with an annual capacity of 3.6 million square metres.

The third agreement, between Nano Volt and Saudi-based Al-Yusr Company, focuses on the marketing and installation of solar energy systems in both countries.

In real estate, Horizon Capital and Saudi firm Yafel Marketing and Real Estate Development Company signed an agreement for joint management and expansion of the Saudi company’s business in Egypt.

The forum also featured business-to-business (B2B) meetings aimed at laying the groundwork for future deals. GAFI Deputy CEO Yasser Abbas led a tour for Saudi investors at Egypt’s Investor Services Centre, highlighting recent reforms to improve the investment climate and accelerate digital transformation.

Attribution: Amwal Al Ghad English