Egyptian developer Al Ahly to enter Saudi real estate market in 2016

Egypt’s property developer Al Ahly For Real Estate Development company is studying the possibility of carrying out a bundle of housing projects in Saudi Arabia by the end of 2016, its chairman Hussein Sabbour said Monday.

Sabbour added that his company is aiming to expand its volume of business abroad.

On the other hand, the Saudi Ministry of Housing has invited Al Ahly Company along with three other Egyptian firms to enter into the Saudi market.

Meanwhile, Al Ahly has signed the first protocol on cooperation with the Saudi ministry to start implementing number of middle-income earners housing project.

Morever, Al Ahly For Real Estate Development Company was founded in 1994, a joint stock company according to the Egyptian law section 159 for year 1981.