Madinet Masr (EGX: MASR.CA), one of Egypt’s leading real estate developers, has achieved a historic milestone, reporting record-breaking total sales of EGP 46.1 billion in 2024.
This exceptional growth underscores the company’s strong financial performance, successful expansion strategy, and ability to develop high-value projects in prime locations, all in alignment with Egypt’s Vision 2030 for urban development.
The company’s success was further highlighted by the rapid sale of 4,708 units across various developments throughout 2024. This remarkable achievement demonstrates customer confidence in Madinet Masr’s projects and its ability to deliver high-quality real estate solutions tailored to the evolving needs of the market.
CEO Abdallah Sallam: A Testament to Vision and Commitment
Expressing his pride in the company’s achievements, Eng. Abdallah Sallam, President and CEO of Madinet Masr, stated:
“These strong results are a direct reflection of our team’s dedication and the trust our customers have in the Madinet Masr brand. Our success reinforces our ambitious vision to expand our land portfolio, strengthen our market leadership, and contribute to sustainable urban development in line with Egypt’s Vision 2030.”
He added: “This milestone serves as motivation for us to continue delivering innovative real estate products that exceed customer expectations, leveraging our 65-year legacy in the Egyptian real estate market.”
Strategic Expansion and New Projects
Madinet Masr’s outstanding sales performance was driven by its strategic expansion plan and the launch of key projects, including:
New phases in “Taj City” and “Sarai”.
“The Butterfly” in Mostakbal City.
The launch of “Tajed”, the first integrated commercial district in Taj City.
Introduction of “Theqa”, Egypt’s first-of-its-kind property warranty, designed to replace traditional maintenance deposits.
Establishment of the region’s first Swiss international sports-focused school, in collaboration with Klub Kayan and Blue Ribbon, the leading sports club management company.
Strategic Partnerships Driving Growth
As part of its growth strategy, Madinet Masr secured major strategic partnerships in 2024, including:
A collaboration with Midar Investment and Urban Development to develop an integrated urban project in Mostakbal City.
A partnership with Misr Al-Gadida for Housing & Development to expand in New Heliopolis City.
A cooperation with Zahraa Maadi Investment and Development to develop an integrated project in New Heliopolis City.
Future Growth and Land Portfolio Expansion
With a strategic land portfolio exceeding 12.7 million sqm, Madinet Masr is committed to expanding its residential and commercial developments while maintaining the highest efficiency and quality standards.
Looking ahead, the company aims to sustain its strong growth trajectory and further strengthen its position as a leading real estate developer in Egypt.
