Palm Hills, Egypt’s leading real estate developer, has announced a strategic partnership with Saudi Arabia’s Dallah Real Estate, a major real estate arm of the Dallah Al Baraka Group, bringing together a combined experience of over 30 years in real estate development, construction, and urban planning.
This partnership, revealed at Cityscape 2024 in Riyadh, aims to transform community living in Saudi Arabia by focusing on integrated residential and mixed-use developments, as well as strengthening the Kingdom’s educational infrastructure.
The signing of the partnership agreement was attended by prominent figures from both companies, including Engineer Maged Sherif, CEO of Palm Hills in Saudi Arabia, and Mr. Saleh Abdullah Saleh Kamel, representing Dallah Real Estate, along with executive leaders. Under the terms of the agreement, Palm Hills will hold a 60 percent stake in the new joint venture, with Dallah Real Estate holding the remaining 40 percent.
Expanding Community and Education Goals for Saudi Vision 2030
At the core of this partnership is the mission to develop fully integrated communities throughout Saudi Arabia, advancing a shared vision for a more connected and inclusive urban landscape.
One of the major initiatives under this partnership is the establishment of 15 international schools over the next decade, designed to elevate educational standards and infrastructure and contribute to a higher quality of life across the Kingdom. This focus on educational infrastructure, which aims to diversify the economy, elevate the quality of life, and foster community development.
This joint venture aims to leverage the extensive expertise of Egypt’s Palm Hills and Saudi Arabia’s Dallah Real Estate to create modern communities that prioritize accessibility and livability.
In addition to residential and educational projects, the partnership will expand into construction, focusing on creating vibrant, inclusive communities across Saudi Arabia.
A Growing Role for Egyptian Developers in Saudi Arabia’s Real Estate Sector
The partnership between Palm Hills and Dallah Real Estate represents Palm Hills’ aim to play a pivotal role in Saudi Arabia’s ambitious real estate expansion.
Palm Hills is one of Egypt’s leading real estate developers, boasting a portfolio of more than 38 projects across West Cairo, East Cairo, Alexandria, and the North Coast. Known for its holistic approach to sustainable living, Palm Hills is behind the ambitious Badya City, Egypt’s first sustainable and smart city that spans over 3,000 acres and aligns with the United Nations Sustainable Development Goals (UNSDG).
Palm Hills is also a significant player in education, exemplified by its development of Badya University in collaboration with the University of Texas Medical Branch and a 29.5 percent stake in Taleem Education.
