Cairo - Mubasher: Marseilia Almasreia Alkhalegeya Real Estate Investment has announced plans to establish a new subsidiary in Saudi Arabia named Marseilia Saudi Arabia for Urban Development, said Chairman Sherif Heliw.
The investment in this venture is set to exceed EGP 10 billion, Heliw added, according to press release.
The announcement was made during a tour of Marseilia’s projects by a delegation of Saudi investors.
This visit is part of the group's broader strategy to expand into the Saudi market.
Heliw outlined the group's ambitious plans to grow its presence in the Middle East, aiming to increase its land portfolio and solidify its regional footprint.
As part of this expansion, Marseilia plans to launch two significant projects in Riyadh and Al Qassim.
In 2023, Marseilia announced splitting the share’s nominal value to EGP 0.50 from EGP 1.
