Redminds Developments has announced a strategic partnership with Saudi-based Al Warda Global Food Trading Group, represented by Sheikh Ibrahim El Ateeq, to form a joint real estate alliance with planned investments of EGP 20bn by 2026.
The agreement was signed in Cairo by Mohamed Yehia, Chairperson and CEO of Redminds, and Sheikh Ibrahim El Ateeq during a press conference. The partnership aims to develop large-scale real estate projects in Egypt and the wider region, establishing a joint Egyptian-Saudi entity focused on long-term growth and cross-border expansion.
Yehia said the alliance’s first project will be Raq Mall in New Cairo’s Golden Square, with investments of EGP 4bn. The development will include commercial, administrative, and medical units across 8,250 sqm, with a design approach that combines Arab architectural character with modern smart technologies.
He added that Redminds, founded in 2024 and backed by over two decades of real estate development experience and 248 completed projects, plans to expand into the Saudi market in the near future.
Sheikh Ibrahim El Ateeq said the partnership followed six months of study and reflects confidence in Egypt’s stability and its appeal to regional investors.
Redminds has also signed agreements with several specialised partners to support project execution and operations, including EgyMap for mall management, Healthy Care Group for medical operations, and Hafez Consulting for engineering services.
