Madinet Masr Achieves Unprecedented Milestone in its History with Record-Breaking Total Sales of EGP 46.1 Billion in 2024
Abdallah Sallam: “Our strong results reflect our team’s dedication and our clients’ trust.”
, Madinet Masr (EGX code: MASR.CA), one of Egypt’s leading real estate developers, reported a strong performance during 2024, achieving a significant leap in sales, achieving a total value of EGP 46.1 billion during 2024. These positive results underscore the company’s growing performance, strong financial position, and the success of its expansion strategy aimed at developing its land portfolio and diversifying its projects in strategic locations. This approach aligns with Egypt’s Vision 2030 for urban development, delivering substantial customer value.
The company’s success extends to the remarkable rapid sale of over 4,708 units across various projects during 2024, which is a clear testament to the customers’ trust in Madinet Masr and the exceptional quality of its projects along with its ability to meet their needs and aspirations.
For his part, Eng. Abdallah Sallam, President and CEO of Madinet Masr, expressed pride towards these positive results, stating, “These achievements reflect the hard work and dedication of our team, as well as the trust our customers place in the Madinet Masr name. It also highlights our ambitious vision, which we strive to realize through our focused efforts to expand our land portfolio and strengthen our leading position in the real estate sector. Also, we are committed to supporting the sustainable urban development goals in line with Egypt’s Vision 2030.” He further emphasized: “These successes serve as a driving force and motivation for us to continue delivering innovative real estate products that meet the aspirations of our customers, building on our 65 years of legacy in the market.”
The exceptional sales performance of Madinet Masr is a result of its strategic approach, coupled with the launch of several key projects; which includes launching new compounds in ‘Taj City,’ ‘Sarai,’ and ‘The Butterfly’ in Mostakbal City. In addition to the launch of “Tajed”, the first integrated commercial district in the heart of “Taj City”. Additionally, Madinet Masr introduced “Theqa” which is the first-of-its-kind property warranty designed to substitute maintenance deposits. The company has also established the region’s first sports-focused Swiss international school in collaboration with Klub Kayan, operated by Blue Ribbon, the premier sports club management company.
In terms of fruitful partnerships, Madinet Masr has concluded a series of strategic agreements in 2024, including the collaboration with “Midar Investment and Urban Development” to develop an integrated urban project in Mostakbal City, as well as a partnership with Misr Al-Gadida for Housing & Development to expand in New Heliopolis City. In addition to a cooperation with “Zahraa Maadi Investment and Development” to develop an integrated project in New Heliopolis City.
Madinet Masr aims to enhance its land portfolio as part of its strategic expansion strategy, which spans over 12.7 million sqm, by developing new residential and commercial projects that adhere to the highest efficiency and quality standards.
