Madinet Masr Housing and Improvement, the Egyptian actual property agency led by Abdallah Sallam, has signed a memorandum of understanding with Ahead Contractors to execute development works valued at EGP1.45 billion ($30.4 million) at Sarai, its mixed-use venture in East Cairo.
The settlement covers the development of 95 residential villas within the Rai section of Sarai. Work is anticipated to be accomplished by the tip of 2027, in line with the businesses.
Madinet Masr accelerates sustainable venture execution
Madinet Masr mentioned the deal is a part of its efforts to hurry up venture supply whereas sustaining trendy constructing and sustainability requirements. The developer has been leaning extra on established contractors because it pushes a number of tasks ahead on the similar time.
Sallam, who serves as president and chief government officer, mentioned the partnership would assist speed up development throughout the corporate’s portfolio. “We’re targeted on creating our land financial institution by built-in tasks that reply to actual demand,” Sallam mentioned. “Working with skilled contractors helps well timed supply and constant high quality.”
Massive-scale Sarai mixed-use venture
Ahead Contractors will oversee execution of the villas, drawing on its expertise in high-end residential developments, the corporate mentioned.
Chairperson and CEO Mohamed El-Gendy mentioned Ahead’s observe report positions it to ship the venture on schedule. “Our groups are targeted on high quality management and assembly agreed timelines, which is crucial for a improvement of this scale,” he mentioned.
Sarai is considered one of Madinet Masr’s largest tasks in East Cairo. The event spans greater than 5.5 million sq. meters and sits alongside the Cairo–Suez Highway close to the Al-Amal axis. It consists of flats. townhouses, S-Villas and different residential codecs designed to serve a spread of patrons. The venture is deliberate as a mixed-use neighborhood that blends housing with industrial and leisure areas.
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Based in 1959, Madinet Masr is considered one of Egypt’s long-established property builders. The corporate has delivered greater than 20,000 housing models over the many years, with a give attention to large-scale residential communities.
Beneath Sallam, Madinet Masr reported EGP 36.3 billion ($763.5 million) in new gross sales, and EGP 2.4 billion ($50.5 million) in web revenue for the first nine months of 2025 barely down from final 12 months because of margin normalization.
The corporate delivered over 1,000 models and introduced enlargement plans into regional markets together with Dubai and Saudi Arabia. The developer also launched a new Sarai phase, with an funding of EGP 11 billion ($231.3 million), reflecting its ongoing technique to diversify choices and develop its footprint in Egypt’s property market.
