Bedeir Rizk to Osoul Misr at London Nile Property Expo: Sumou Boulevard’s first launch surpasses US$150m in sales

Bedeir Rizk, Chief Executive Officer of Paragon | Adeer, said the company launched its Sumou Boulevard project in Mostakbal City, New Cairo, just two weeks ago, with the first phase selling out within days and generating sales exceeding US$150m.

In exclusive remarks to Osoul Misr on the sidelines of the 20th edition of Nile Property Expo in London, Rizk said the strong demand reflects the resilience of Egypt’s real estate market and the depth of underlying demand, as well as the project’s distinctive positioning and innovative offering.

 Development attracts strong demand from buyers under 40

He noted that 70% of buyers in the first launch of Sumou Boulevard were under 40, representing the largest segment of Egypt’s population. This demographic had not traditionally been a major driver of real estate investment in previous years.

Rizk said the development was specifically designed to appeal to this segment, a shift he believes will support the continued expansion of investment in Egypt’s property market.

He added that the company is showcasing Sumou Boulevard in London for the first time through Nile Property Expo, noting that Europe represents a significant pool of high-net-worth investors, including Egyptians living abroad and international buyers with strong interest in real estate investment.

Rizk said property exhibitions provide an effective platform for reaching this target audience while helping attract additional foreign capital into Egypt’s real estate market.

At Nile Property Expo, PARAGON | Adeer is showcasing Sumou Boulevard in Mostakbal City, New Cairo.

Spanning 500,000 sq m with total investments of EGP 70bn, the mixed-use development integrates residential, retail, and Grade A office components within a master-planned destination designed around innovation and enhanced quality of life.

The development reflects the company’s vision of creating integrated, future-ready urban environments that balance architectural innovation with practical functionality, delivering contemporary residential and commercial products tailored to investors seeking differentiated opportunities in today’s market.

Sumou Boulevard is being delivered through a long-term Egyptian-Saudi partnership to create a landmark mixed-use destination in Mostakbal City, reflecting the continued growth of regional investment and strengthening economic cooperation between the two countries.

The partnership brings together Adeer International, the development and investment arm of Sumou Holding, and Paragon.

The company’s participation in the London exhibition aims to deepen engagement with the Egyptian community and investors in the United Kingdom, while highlighting the strategic value and long-term investment proposition of Sumou Boulevard as part of Egypt’s ongoing urban transformation.