Paragon Developments launches office in Riyadh to expand regional footprint across MENA
Cairo – Paragon Developments, Egypt's leading regenerative mixed-use developer, has inaugurated its first regional office in Saudi Arabia, according to a press release.
Located in Riyadh, the development scheme aligns with the company's commitment to expand its footprint in the MENA region, while identifying growth opportunities across the Gulf countries and beyond Egypt.
The announcement coincides with Paragon's participation in the Nile Expo Real Estate Exhibition, reinforcing its commitment to fostering partnerships within the real estate sector.
Mohamed Bedeir, Chairman of Paragon Developments, commented: 'Building on the success of PARAGON 1, PARAGON 2, and PARAGON 3 in Egypt, and our distinctive approach to interconnected mixed-use developments, PARAGON is set to deliver 360,000 sqm of mixed-use facilities in Saudi Arabia.
'Our first regional office signifies a crucial step in our commitment to seamlessly blend lifestyle, culture, well-being, business, and hospitality,' Bedeir added.
Bedeir Rizk, CEO of Paragon Developments, stated: 'At PARAGON, we are planning to develop and manage 200,000 sqm of office space by 2027, with a target of 500,000 sqm by 2030 across key cities like Riyadh and Jeddah.'
He noted: 'This office expansion is more than just a growth milestone; it marks the beginning of a broader journey to actively contribute to a more holistic and regenerative future across the region as we also continue to explore opportunities in other dynamic markets.'
Ahmed Shaarawy, Commercial Vice President at Paragon Developments, commented: 'Our participation in Nile Expo in Saudi Arabia comes at a pivotal moment for PARAGON, as we establish our regional presence and introduce our regenerative development model to a broader Gulf audience.'
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