in the Kingdom of Saudi Arabia
Mountain View and “Alesayi Investment Group” Signs an agreement to form a joint venture
As part of the company's strategy to expand abroad and in an effort to contribute to development of the Real Estate as part of the Quality-of-Life Program, one of the Saudi Vision 2030 Realization Programs, Mountain View for development and real estate investment signed an agreement with Omar Kassem Alesayi Investment Group.
The agreement is to form a joint venture company in the field of construction and real estate development in the Kingdom of Saudi Arabia, to create world-class integrated urban projects, and tourists’ resorts.
The agreement was signed, in the attendance of Mountain View’s Founder & Chairman, Eng. Amr Soliman, Alesayi Holding Group’s Member of the Board of Directors, Mr. Mohammed Omar Alesayi, Mountain View’s Chief Investment Officer, Mrs. Ghada Nour, along with Alesayi Holding Group’s CEO, Eng. Hany Habashy.
Considering the extensive experience that both parties have in the fields of investment and real estate development, this agreement aims to strengthen the cooperation and exchange of experiences between the two companies.
It also focuses on finding opportunities to develop joint innovative housing projects, such as real estate development, residential projects, shopping centers and hospitality. The agreement also aims to expand on promoting investments in the sector, inside the Kingdom.
On this occasion, Eng. Amr Soliman said “as one of the top real estate companies in Egypt, Mountain View’s strategy includes expanding to neighboring markets, to share its successful experience in establishing integrated urban projects based on the implementation of the “science of happiness” in the Middle East, to lead the way in the Egyptian real estate market.
“We signed this agreement with Alesayi Group, a leader in the real estate sector in Saudi Arabia,” he added, “to study the development of new projects in the Kingdom as one of the promising markets in the region.
At Mountain View, we take pride in developing 15 urban projects over the past 17 years since we started across Egypt, which earned the trust of thousands of customers thanks to their innovative and unique designs.”
On his part, Mr. Mohammed Omar Alesayi highlighted the importance of this agreement, considering its compatibility with the latest real estate trends in the Saudi market – one of the most promising future global markets among other vital sectors.
Such collaboration will contribute to the development of new areas of economic activities, creating job opportunities, and advancing economic development; to play a part in achieving Kingdom’s Vision 2030, to increase the percentage of ownership of residential units to 70% over the next ten years.
Ms. Ghada Nour quoted that “Mountain View seeks to share its expertise in developing major integrated real estate projects to neighboring regional markets through signing this agreement with Alesayi Group, in a way that contributes to promoting the Egyptian real estate sector, diversifying its project portfolio, and achieving appropriate returns of investment for the stakeholders.
In that regard, she also noted that Mountain View considers the Saudi market offers investment opportunities that are in line with the company’s vision to expand abroad”.
On another note, Eng. Hany Habashy added that “Alesayi Group works and invests in projects that add value to the national economy and contributes to improve the quality of life.
Such a fruitful partnership with Mountain View, the leader in the real estate field in Egypt, reaffirms the group's focus on achieving sustainability for its real estate projects around the Kingdom, as a main axes in the Vision 2030, using the latest construction technologies and in cooperation with local and international professional expertise”.