Mountain View kicks off ops in Kingdom with SAR 1.2B project

Wael Ezz, CEO of Mountain View

Mountain View, the leading property developer in Egypt, is entering the Saudi market with a major investment project, which includes the construction of 500 housing units, with an investment value of about SAR 1.2 billion, said CEO Wael Ezz.
 

This expansion comes with the company’s strategy to transfer its extensive experience in Egypt to the Kingdom, with the aim of improving the quality of life and achieving well-being for Saudi nationals, he told Argaam, on the sidelines of Cityscape Global exhibition held in Riyadh.
 

He added that Mountain View is a pioneer in the Egyptian real estate market for more than 20 years, as it has developed about 20 diverse projects and contributed to the establishment of residential communities that are currently home to more than 60,000 families.
 

The company generated annual revenues of about SAR 5 billion in Egypt last year, with expectations of doubling this figure this year, said the CEO, indicating that the value of the company's projects is estimated between SAR 40-50 billion.
 

Ezz also highlighted the importance of strategic partnerships with Saudi investors, to exchange knowledge and enhance cooperation between the two sides, especially with the increasing demand and the diverse needs of Saudi families.
 

He stressed that Mountain View aims to expand the scope of its projects in the Kingdom to include residential units of various sizes and designs, to meet the different needs of customers in multiple regions, thus backing its ambitious strategy to become one of the largest real estate developers in the Saudi market.
 

The company's foray into the Kingdom comes in line with Vision 2030, launched by Crown Prince Mohammed bin Salman, which provides promising investment opportunities thanks to the focus on promoting housing and citizens' ownership of homes, in addition to improving the quality of life, the CEO stated.
 

He pointed out that Saudi Arabia is one of the main markets in the region, thanks to its clear growth and the existence of a well-regulated investment system, which makes it an ideal environment for any investor wishing to participate in the Kingdom’s urban renaissance.
 

The property developer seeks to introduce the concept of “the science of happiness” in its projects, which focuses on the well-being of living and achieving a better quality of life. This is the company’s first project in Saudi Arabia, and also represents a first step in its expansion plan in the Kingdom, which includes developing future projects in several different regions, meeting the diverse needs of the Saudi society looking forward to renovation and development, according to Ezz.