Paragon & Sumou Investment Plan $1.4B Project in Mostakbal City
Paragon Developments and Saudi Arabia’s Sumou Investment will co-develop a $1.4 billion mixed-use project in East Cairo.
Egypt-based Paragon Developments and Saudi Arabia’s Sumou Investment are planning a $1.4 billion mixed-use development in East Cairo’s Mostakbal City.
The project will be developed through a partnership between the two companies, bringing together Egyptian and Saudi investment in a single real estate scheme in the fast-growing area east of Cairo.
Under the agreement, Paragon Developments and Sumou Investment will act as co-developers on the project, which is planned as a mixed-use development within Mostakbal City.
Mostakbal City is one of the largest urban expansion zones in East Cairo and forms part of wider plans to expand residential, commercial and mixed-use developments across the area as Cairo continues to grow eastward.
The $1.4 billion project reflects growing cross-border real estate investment between Egypt and Saudi Arabia, particularly in large-scale urban developments linked to Cairo’s expanding satellite cities.
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