Paragon Developments Expands into Saudi Arabia with Riyadh Office
Paragon Developments, Egypt’s prominent regenerative mixed-use real estate developer, has officially opened its first regional office in Riyadh, Saudi Arabia. The move marks a significant step in the company’s long-term strategy to expand its footprint across the Middle East and North Africa (MENA) region. The announcement was timed with the company’s participation in the Nile Expo Real Estate Exhibition in Saudi Arabia, a prominent event that connects real estate developers, investors, and buyers from across the Gulf.
With a growing reputation in Egypt for blending innovation, sustainability, and wellness in real estate, Paragon is now setting its sights on the Gulf Cooperation Council (GCC) markets. The new office in Riyadh is the first in a planned series of regional expansions that aim to capitalize on the booming infrastructure and real estate sectors across Saudi Arabia and the wider Gulf.
Building on Egypt’s Success with Strategic Expansion
Chairman Mohamed Bedeir emphasized that the new office in Riyadh builds on the foundation of the company’s successful projects in Egypt—PARAGON 1, PARAGON 2, and PARAGON 3. These developments have become notable for their integrated mixed-use design, featuring commercial, cultural, and wellness elements within a sustainable framework.
Bedeir stated, “Building on the success of PARAGON 1, 2, and 3 in Egypt, and our distinctive approach to interconnected mixed-use developments, PARAGON is set to deliver 360,000 square meters of mixed-use facilities in Saudi Arabia.”
His vision underlines the importance of design that doesn’t just provide space, but curates experiences that blend lifestyle, business, hospitality, and well-being—an approach that aligns with modern urban living and the demands of both residents and enterprises.
Vision for the Future: Expanding Across Key Saudi Cities
CEO Bedeir Rizk detailed Paragon’s development roadmap in Saudi Arabia. He confirmed plans to develop and manage 200,000 square meters of office space by 2027, with an ambitious goal of reaching 500,000 square meters by 2030. The cities of Riyadh and Jeddah are being prioritized due to their strategic economic significance and rapid urban expansion.
“This office expansion is more than just a growth milestone,” said Rizk. “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.”
The company’s regenerative approach—which includes energy-efficient designs, wellness-focused features, and community-driven planning—is being tailored to meet the unique needs of Saudi Arabia’s evolving urban centers.
Strategic Timing: Aligning with Vision 2030
Paragon’s entrance into Saudi Arabia coincides with a pivotal period in the country’s economic transformation under Vision 2030, the national roadmap aimed at diversifying the economy and reducing dependency on oil revenues. With mega projects like NEOM, The Line, Qiddiya, and Diriyah Gate underway, the demand for innovative and sustainable urban development is rising significantly.
Saudi Arabia’s real estate sector is expected to reach over $161 billion by 2030, offering robust opportunities for international and regional developers. Riyadh, which is undergoing massive urban renewal, is expected to double its population to 15 million by 2030, creating increased demand for modern office spaces and mixed-use hubs.
In this landscape, Paragon’s regenerative development model—already proven successful in Egypt—could serve as a valuable addition to Saudi Arabia’s rapidly transforming real estate market.
Introducing Regenerative Urbanism to the Gulf
Commercial Vice President Ahmed Shaarawy described the company’s debut at the Nile Expo as a defining moment in Paragon’s history. “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.”
This development model is based on Paragon’s principle of “regenerative urbanism,” a framework that aims not only to minimize environmental impact but also to enhance ecosystems and human well-being. It includes features such as EV charging stations, green roofs, sustainable materials, natural lighting, smart building systems, and integrated wellness centers.
In Egypt, Paragon’s previous projects have been recognized for creating vibrant business communities that go beyond traditional corporate environments. In Saudi Arabia, this regenerative philosophy is expected to resonate well with the country’s growing emphasis on sustainability, human-centered cities, and technology integration.
Broader Regional Strategy in MENA
Paragon’s move into Saudi Arabia represents just one phase of its broader regional ambitions. The company has signaled interest in other GCC nations such as the UAE, Qatar, and Oman—countries also undergoing significant real estate transformations aligned with sustainability and digital infrastructure.
Furthermore, Paragon has established a track record of forming partnerships with regional and international investors. The Riyadh office is expected to serve as a command hub for managing joint ventures, strategic alliances, and public-private partnerships across the region.
Several regional trends support this expansion:
Gulf urbanization: Major GCC cities are undergoing massive infrastructure development, creating high demand for integrated, modern real estate offerings.
Rising foreign investment: The Gulf’s open investment environment and regulatory reforms have attracted increasing international interest in real estate.
Sustainability mandates: Countries across the MENA region are aligning construction and urban planning with the UN Sustainable Development Goals (SDGs).
Egyptian Developers Entering Gulf Markets
Paragon joins a growing group of Egyptian developers who are establishing a presence in Saudi Arabia and other Gulf markets. This includes firms such as Tatweer Misr, Mountain View, and Misr Italia Properties, which have recently signed strategic agreements in the Kingdom. The increased cross-border collaboration reflects Egypt’s push to export real estate expertise, particularly in master-planned developments and energy-efficient architecture.
Saudi Arabia’s real estate market offers long-term stability due to government-backed urban planning, strong economic fundamentals, and population growth. These attributes make it a desirable destination for Egyptian developers like Paragon that bring experience in mixed-use, lifestyle-focused developments.
Economic Diversification Fuels Real Estate Demand
Saudi Arabia’s push for economic diversification is having a ripple effect on real estate demand across sectors such as tourism, finance, and logistics. New office districts, hospitality zones, and cultural hubs are emerging in cities like Riyadh, Jeddah, and Al Khobar.
By delivering flexible, scalable office and lifestyle spaces, Paragon is positioning itself to support Saudi Arabia’s diversification goals. The company’s presence is likely to cater to multinational companies, startups, and government agencies seeking modern and efficient office environments.
Outlook: Balanced, Strategic, and Forward-Thinking
Paragon’s entry into Saudi Arabia is a calculated and well-timed move. The company’s experience in regenerative urbanism, combined with its Egypt-based operational success, gives it a strong foundation to replicate this model in the Gulf.
As the region embraces smart cities, green infrastructure, and holistic living concepts, Paragon’s integrated approach offers a timely and relevant solution. Still, the company must remain flexible, navigating regulatory, cultural, and competitive challenges in a rapidly evolving market.
The establishment of a Riyadh office not only signals business expansion but also showcases Paragon’s commitment to being a proactive contributor to regional progress.
