Madinet Masr Signs Partnership Agreement with Midar for Investment and Urban Development to develop an integrated residential project

Madinet Masr (code MASR.CA), one of Egypt’s leading real estate developers, has announced the signing of an agreement to develop an integrated residential project in collaboration with Midar for Investment and Urban Development on a revenue-sharing basis. This project spans over nearly one million sqm and is located in the fourth phase of
Al Amal Axis in Mostakbal City. This partnership reflects Madinet Masr’s strategic expansion plan to develop its land portfolio, creating advanced residential communities that cater to the growing demands of Egypt’s real estate sector. This approach aligns with the significant urban development currently taking place in Egypt.

The project spans an area of 238 acres (approximately one million sqm) and features a master plan designed in a modern, nature-inspired style. It offers a diverse mix of residential units, including apartments and various types of villas, to meet all customer expectations. Additionally, it includes commercial spaces with multiple services, and facilities, surrounded by extensive green areas, creating a comfortable and sustainable living environment.

Commenting on this partnership, Eng. Abdallah Sallam, President and CEO of Madinet Masr, said: “With over 65 years of legacy in the real estate sector, we always seek strategic partners who are trustworthy, credible and possess the vision and ambition to create and build sustainable communities that foster growth and innovation. We are proud to partner with Midar for Investment and Urban Development to implement a mixed-use urban community that adds value to its residents through its prime location and innovative designs, making it an ideal destination for those seeking a modern and comfortable lifestyle.” He added, “We are committed to expanding our land portfolio and developing integrated projects that meet our customers’ needs and enhance their living experience according to the highest standards of quality and excellence.”

For his part, Eng. Ayman ElKousey, CEO & Managing Director of Midar for Investment and Urban Development, expressed his delight with the new partnership between “Midar” and Madinet Masr. The partnership aims to develop the most distinguished land plot in “Mostakbal City”. ElKousey emphasized that “Midar” is committed to strategically partner with leading developers to provide unique integrated experiences and services along with continuous support in developing projects within Midar cities. He added that Madinet Masr holds an extensive expertise and well-rounded reputation in real estate development, qualifying it to offer the best technical offer to develop their new project in Mostakbal City. He affirmed that “Mostakbal City” has established itself as a distinguished investment destination for major developers, due to its prime location, advanced facilities, and infrastructure, positioning it as a fourth-generation city.”