Cairo, 25 September 2024 – Madinet Masr (stock code MASR.CA), one of Egypt’s leading urban community developers, announced the launch of several pioneering projects over the past nine months, with a total investment value of EGP 103 billion. These initiatives not only strengthen the company's position as a market leader but also reflect its dedication to meeting customer needs through innovative real estate solutions, commercial developments, and sustainable communities.
Madinet Masr recently unveiled its latest project, "The Butterfly," located in Mostakbal City, developed by Minka, a signature community by Madinet Masr, providing signature communities and innovative real estate products, with a total value of EGP 64 billion, "The Butterfly" features luxurious villas and modern apartments that integrate green spaces and water features, while adhering to the highest sustainability standards. With its unique butterfly-wing design, the project aims to create a serene living environment surrounded by breathtaking natural scenery, marking a new milestone in Madinet Masr’s diverse real estate portfolio.
Additionally, Madinet Masr has launched "Rai Valleys" as part of Sarai, covering 36,000 square meters and featuring 182 residential units, including standalone villas ranging from 175 to 235 square meters and townhouses between 202 and 207 square meters. This project is targeting sales of EGP 3.5 billion, with an anticipated completion timeline of 4 years.
Moving to East Cairo’s Taj City, Madinet Masr has introduced "Origami Golf," a project inspired by the Japanese art of origami, spanning 204,893.13 square meters, it features 932 residential units, including both apartments and villas. Valued at EGP 11 billion, this development promises a distinctive – remarkable - notable living experience, incorporated with a miniature golf course and a wide range of residential services.
As part of the ongoing expansion in Sarai, Madinet Masr has also launched "Sheya," spanning over 228,212 square meters with a value of EGP 6.9 billion. This project offers 744 units featuring modern designs, wide green spaces, and a variety of facilities, including a clubhouse, swimming pools, and vast landscaped areas, all aimed at providing residents with an unparalleled comfort and luxury experience.
Madinet Masr’s "Esse Residence," located in Sarai in proximity to the New Administrative Capital, spans 400,000 square meters and features 1,804 luxury residential units, including villas, apartments, and duplexes. With a total investment of EGP 18.1 billion, the project showcases modern designs and integrated services, catering to a variety of customer needs while integrating the latest trends in Egypt’s real estate market.
Stemming from Madinet Masr’s belief that substantial development goes beyond just construction, the company has launched "Tajed," its first integrated commercial district in Taj City. Spanning 39,000 square meters, "Tajed" features nine distinct zones that overlook the Ring Road and provide direct access from the Cairo-Suez Road, making it an easily accessible commercial hub. The first phase includes retail spaces of approximately 3,000 square meters per zone, designed to attract major brands, along with a variety of amenities such as restaurants, cafes, banks, pharmacies, and offices in the second floor tailored to meet corporate needs.
It’s worth noting that Madinet Masr has placed a strong emphasis on boosting sales and revenue through the launch of new projects and phases. The company reported remarkable results, achieving contractual sales of EGP 20.9 billion, with a notable YoY revenue increase of 95.8%, totaling EGP 4.3 billion. Additionally, net profit soared by 149.4%, reaching EGP 1.5 billion.
About Madinet Masr:
Madinet Masr, one of Egypt’s leading urban community developers was established since 1959. Headquartered in Cairo and listed on the Egyptian Exchange in 1996 (EGX), Madinet Masr operates under a robust corporate governance structure and is committed to delivering exceptional value to all its stakeholders. Rebranded from Madinet Nasr to Madinet Masr in 2023, the company has become one of the most innovative real estate companies in Egypt, capitalizing on a long and successful track record of delivering distinguished and multi-functional developments that drives growth in Egypt by developing sustainable communities. Madinet Masr has become a prominent community developer and urban planner in Egypt after developing Nasr City, the largest neighborhood in Greater Cairo with a population of over three million people. Since then, It has actively taken on large-scale projects to transform sizeable areas of land into contemporary, integrated communities.
Today, Madinet Masr owns a land portfolio of 12.6 million sqm, with two renowned mega developments, Taj City and Sarai in East Cairo. Taj City, a 3.6 million sqm mixed use development positioned as a premier destination, and Sarai a 5.5 million sqm mixed use development strategically located in front of Egypt’s New Administrative Capital. Madinet Masr has launched Zahw in 2023, its first expansion project outside of Cairo Governorate. Zahw is a 104-acre mixed use development strategically positioned in west of Assiut Governorate beside Assiut’s airport and 15-minute away from its center. Zahw compliments the contemporary real estate products in Upper Egypt.
Some of the key strategic partnerships signed include the development of a project in New Heliopolis City, covering an area of 491 feddans, and the development of an integrated residential urban project in the fourth phase of Al Amal Axis in Mostakbal City, covering an area of 238 feedans.
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