Sumou Boulevard to Bring New Tech-Driven Vision to New Cairo

"Sumou Boulevard is a ordinary mixed-used development" - that was the core message at Paragon | Adeer’s launch ceremony on April 19th, which, was the first ever event to take place at the courtyard of Khufu’s Boats Museum at the Grand Egyptian Museum.

Positioned at the centre of thousands of years of history, the event was attended by nearly 200 guests, including Egyptian Ministers and prominent government officials, business leaders, and investors from across Egypt and the region. As course after course catered by acclaimed chef Avec Karim were served, MC Ramy Radwan walked guests through the vision of this new fully integrated urban ecosystem, which promises to be a model for Cairo’s future.

“Sumou Boulevard reflects a shared Egyptian-Saudi vision rooted in Egypt’s rich cultural legacy and forward-looking ambition,” said Bedeir Rizk, CEO of Paragon | Adeer. As the first flagship investment by Saudi Arabia’s Sumou Investment through Adeer International in the Egyptian market, the project represents not only a major milestone for Saudi-Egyptian economic collaboration in the country’s capital, but also a new model of urban development that mixes regional investment expertise with deeply-rooted local market insight.

In the first official reveal video for the development, guests caught glimpses of a community that is rooted equally in heritage and a clever understanding of what today’s generation of young professionals want from their lives going forward.

“Sumou Boulevard is about walkability, and being able to have an open view throughout the development,” said Bassel El Serafy, Global CEO of Adeer International, the international investment arm of Sumou Investment. “We spent two years picking the location and working with local developers on the vision. We studied Cairo’s expansion and found that, if you look 10 years forward and put a pin in the centre of New Cairo, that pin will be in Mostakbal City where Sumou Boulevard is.”

In a competitive real estate market such as Cairo’s, Sumou Boulevard aims to stand out in more than a few ways. Besides its nods to traditional architecture and walkability through the design of its buildings and commercial spaces, as well as being a mixed-use area in which work, education, and play carry on side by side, Sumou Boulevard will be home to Egypt’s first AI Campus.

"We’re introducing for the first time to Egypt an innovation district with its own AI Campus to develop local ideas and attract global talent,” said CEO Bedeir Rizk. As the cornerstone of Sumou Boulevard, Paragon | Adeer have secured the partnership of technology giant Schneider Electric, innovation platform Plug and Play, and Orange Egypt. “We’re looking to have 100 AI companies populate the campus when it launches,” said Sébastien Riez, Cluster President at Schneider Electric, after signing an MoU on stage to pen the agreement.

What the event also showed is that bringing such an ambitious integrated project to life - with investments totalling over 70 billion EGP and spanning 500,000 square meters - is the result of rising Gulf investment confidence in Egypt. Abdulrahman Al Qahtani, Managing Director of Sumou Investment, says, “Egypt is one of the region’s most promising investment destinations, with strong fundamentals and significant long-term growth potential.” To Al Qahtani, Sumou Boulevard represents an important step in Adeer International’s regional expansion, and though it is their first step in Egypt, it won’t be their last.