Egypt-based real estate company Melee Development is set to establish three state-of-the-art sports clubs in Saudi Arabia, with an investment of approximately SAR 4.5 billion. This ambitious project, announced by Chairman Gasser Bahgat, aims to enhance the sports infrastructure in the kingdom and promote a healthy lifestyle among its citizens. The clubs will be located in Khobar, Jeddah, and Riyadh, with the first club in Khobar expected to be completed by the end of this year. This initiative is part of a broader strategic alliance between Melee Development and Adeer International, a subsidiary of ADEER Holding and Sumou Holding group.
Strategic Investment and Collaboration
Melee Development’s decision to invest in Saudi Arabia’s sports sector is a strategic move aimed at capitalizing on the kingdom’s growing demand for high-quality sports and recreational facilities. The investment will be funded through Melee’s own resources and additional financing from Saudi funds. This collaboration underscores the strong economic ties between Egypt and Saudi Arabia and highlights the potential for cross-border investments in the region.
The partnership with Adeer International is crucial for the success of this project. Adeer International, known for its expertise in real estate investment and development, will bring valuable insights and resources to the table. This collaboration is expected to facilitate the exchange of knowledge and best practices between the two companies, ensuring the successful execution of the project.
The sports clubs will cater to around 40,000 members, equivalent to an average of 10,000 families per club. These facilities will offer a wide range of sports and recreational activities, including swimming, tennis, and fitness programs. The clubs will also feature state-of-the-art amenities such as gyms, spas, and dining areas, providing a comprehensive and luxurious experience for members.
Enhancing Sports Infrastructure
The establishment of these sports clubs is a significant step towards enhancing the sports infrastructure in Saudi Arabia. The kingdom has been actively promoting sports and physical activities as part of its Vision 2030 initiative, which aims to diversify the economy and improve the quality of life for its citizens. By investing in sports infrastructure, Melee Development is contributing to this national vision and supporting the government’s efforts to promote a healthy and active lifestyle.
The sports clubs will be equipped with modern facilities and advanced technologies to ensure a high-quality experience for members. This includes the latest fitness equipment, professional coaching services, and innovative training programs. The clubs will also host various sports events and competitions, providing a platform for athletes to showcase their talents and encouraging community participation in sports.
In addition to promoting physical fitness, the sports clubs will also serve as social hubs where members can connect and engage with each other. The clubs will offer a range of social activities and events, fostering a sense of community and belonging among members. This holistic approach to sports and recreation aligns with Melee Development’s vision of creating vibrant and inclusive communities.
Future Prospects and Expansion Plans
Looking ahead, Melee Development has ambitious plans for further expansion in Saudi Arabia and beyond. The company is already in discussions with The Sovereign Fund of Egypt (TSFE) to acquire a 100-fedan plot of land for a residential, commercial, and administrative project in West Cairo. This project is expected to be announced soon and will further strengthen Melee’s presence in the real estate market.
Melee Development is also allocating EGP 100 million for the acquisition of another company in Egypt, as part of its strategy to diversify its portfolio and expand its operations. The company has earmarked between EGP 80 billion and EGP 100 billion for new real estate developments in East Cairo and the North Coast over the next two to five years. These projects will focus on creating sustainable and innovative communities, in line with Melee’s commitment to excellence and quality.
The successful execution of the sports clubs project in Saudi Arabia will pave the way for future investments and collaborations in the region. By leveraging its expertise and resources, Melee Development aims to become a leading player in the sports and real estate sectors, contributing to the economic growth and development of both Egypt and Saudi Arabia.
