Paragon Developments Plants Its Flag in Riyadh, Eyes Bigger Role in Gulf’s Real Estate Push

Egyptian developer Paragon is making its first major leap beyond home turf, opening a new office in Riyadh as part of its broader bet on Saudi Arabia’s property boom and the wider MENA region.

The move, announced Monday, places the regenerative mixed-use builder at the heart of one of the Gulf’s fastest-growing real estate markets, with a clear focus on expanding its development footprint into cities like Riyadh and Jeddah.

A Regional Playbook Starts to Unfold

Cairo-based Paragon’s decision to expand into Saudi Arabia doesn’t exactly come out of nowhere.

The company, best known for its interconnected real estate developments like PARAGON 1, 2, and 3 in Egypt’s New Administrative Capital, has been quietly studying regional trends. Now, it’s stepping out.

Chairman Mohamed Bedeir says the new Riyadh office represents a serious evolution — one where lifestyle, culture, business, and even hospitality come together under a unified design approach.

Paragon Developments Riyadh office opening Saudi

“It’s not just about square meters,” Bedeir said in the statement. “It’s about creating places where work-life balance isn’t an afterthought but baked into the bones of the building.”

He wasn’t exaggerating either. Paragon’s plans for Saudi Arabia already clock in at 360,000 square meters of mixed-use development.

Saudi Arabia’s Real Estate Appetite Keeps Growing

This expansion arrives at a time when Saudi Arabia’s Vision 2030 transformation drive has created a near-insatiable appetite for new commercial and residential spaces.

From the mega-projects like NEOM to more grounded urban hubs in Riyadh and Jeddah, the Kingdom is reimagining nearly every aspect of how people work, live, and interact.

Riyadh alone has seen a flurry of office space development and demand — especially from tech, energy, and public-sector tenants. That’s the exact market Paragon is aiming to plug into.

CEO Bedeir Rizk made that clear: “We’re not here to watch. We’re here to help shape the urban dialogue,” he said. “We’re targeting 200,000 square meters of office space by 2027, and half a million by 2030.”

One sentence. No frills. Just intent.

A Regenerative Model Aims to Stand Out

Paragon isn’t trying to be just another foreign real estate brand setting up shop in the Gulf.

Instead, it’s pushing what it calls a “regenerative development model,” which — to cut through the buzz — really means integrating environment-conscious design, community interaction, and flexible use spaces under one roof.

Ahmed Shaarawy, the group’s commercial vice president, described the idea more practically while attending the Nile Expo Real Estate Exhibition in Saudi Arabia. “Our expansion isn’t just physical. It’s about introducing new standards to how urban spaces should behave.”

• Regenerative development includes adaptive reuse of materials, flexible commercial zoning, and infrastructure that can pivot as communities grow.

That may sound idealistic, but there’s a growing market for such “intelligent buildings,” especially among young Gulf professionals and regional investors.

Paragon’s Homegrown Roots Still Matter

Despite the geographic leap, Paragon is still deeply Egyptian at its core. The company’s expansion into Riyadh comes off the back of strong performances in Egypt’s New Capital, where it helped set the tone for mixed-use developments built with smart tech and cross-sectoral design.

Here’s a breakdown of Paragon’s existing and upcoming projects:

Project Name Location Total Space Planned Completion Status
PARAGON 1 New Capital, Egypt 23,000 sqm Completed
PARAGON 2 New Capital, Egypt 25,000 sqm Under Construction
PARAGON 3 New Capital, Egypt 18,000 sqm Pre-Development Phase
Riyadh Hub Riyadh, Saudi Arabia 360,000 sqm (planned) Announced

While the figures might look modest compared to some of the Kingdom’s megaprojects, Paragon’s niche lies in thoughtful, community-focused designs — rather than sheer scale.

Why Now? Timing, Talent, and Traction

You might be wondering: why is Paragon making this move right now?

A few reasons line up.

First, the timing fits neatly into Saudi Arabia’s race to transform its economy. With non-oil sectors like real estate and hospitality gaining ground, developers with proven experience in urban integration — like Paragon — suddenly find themselves in high demand.

Second, Paragon’s team is no stranger to scaling fast. Its commercial and architectural teams in Egypt have handled back-to-back mixed-use developments with a focus on modularity and future-ready tech.

Third, the company isn’t waiting for the market to come to it. By launching during the Nile Expo, they’re leveraging a platform that attracts Saudi and Gulf investors looking for regional real estate innovation.

And finally? Because they simply think this is their moment.

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