Madinet Masr (EGX code: MASR.CA), one of Egypt’s premier real estate developers, has entered into a strategic Memorandum of Understanding (MoU) with Korra For Energy & Investment Projects, a leader in the building and construction sector.
The partnership aims to expedite construction at Taj City, Madinet Masr’s flagship mixed-use development in New Cairo, with investments exceeding EGP 480 million. This collaboration reflects the company’s continued strong economic performance and dedication to meeting delivery deadlines, further cementing its position as a leader in Egypt’s real estate market.
Partnership Signing Ceremony
The MoU was signed by Eng. Abdallah Sallam, President and CEO of Madinet Masr, Eng. Ayman Korra, President and CEO of Korra For Energy & Investment Projects, and Vice President Heba Korra, in the presence of top executives from both companies.
Under the agreement, Korra Energi will oversee the construction of a showroom in Tajed, part of Taj City. The construction is expected to conclude by 2025, adhering to the highest global standards to deliver maximum comfort, luxury, and value to customers.
Statements from Leaders
Speaking on the partnership, Eng. Abdallah Sallam, President and CEO of Madinet Masr, emphasized:
“At Madinet Masr, we view strategic partnerships as key drivers of innovation and economic growth. Collaborating with trusted entities like Korra Energi enables us to add significant value to our projects and customers.
These partnerships allow us to deliver sustainable, innovative real estate projects that align with the needs of our clients and reinforce our market leadership. Our vision is closely aligned with Egypt’s urban development goals and Vision 2030, enabling us to contribute meaningfully to the country’s progress.”
Similarly, Eng. Ayman Korra, President & CEO of Korra For Energy & Investment Projects, expressed his pride in the collaboration, stating:
“We are thrilled to partner with Madinet Masr, a leading player in the Egyptian real estate market. Together, we aim to build a sustainable future by leveraging state-of-the-art construction technologies and adhering to the highest international standards.”
Eng. Mohamed Lashin, Senior Vice President of Projects at Madinet Masr, added:
“This strategic partnership with Korra Energi will accelerate the progress of Taj City, one of our landmark projects. Our shared commitment to sustainability and delivering exceptional living spaces ensures that this collaboration will produce a world-class development completed on time and to the highest quality standards.”
Heba Korra, Vice President of Korra For Energy & Investment Projects, highlighted the innovative and transformative nature of the project, saying:
“We are proud to be part of a partnership that represents our dedication to delivering cutting-edge construction solutions. Taj City is set to redefine Egypt’s real estate market, offering unparalleled quality, design, and an exceptional living experience that meets customer expectations and elevates the market’s position on both regional and international levels.”
About Taj City
Taj City spans a vast area of 3.5 million square meters and serves as a testament to Madinet Masr’s 65-year legacy of excellence in Egypt’s real estate sector. Strategically located in New Cairo along the Ring Road, the project is conveniently situated near Cairo International Airport and minutes away from key areas such as East Cairo, Downtown, and Heliopolis.
Taj City offers a harmonious blend of contemporary residential complexes, cutting-edge shopping destinations, premium facilities, and a lush green landscape. The development seamlessly integrates modern living with the rich cultural heritage and warm values of Egyptian traditions, ensuring an unmatched living experience for its residents.
Key Highlights of the Partnership
Investment Value: Over EGP 480 million dedicated to accelerating construction.
Scope of Work: Korra Energi to construct a showroom at Tajed within Taj City by 2025.
Commitment to Excellence: Adherence to global quality standards to ensure luxury, comfort, and sustainability.
Alignment with Vision 2030: Supporting Egypt’s urban development and sustainability goals.
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