In a pivotal move towards enhancing urban infrastructure, Madinet Masr (EGX code: MASR.CA) has signed a Memorandum of Understanding (MoU) with ASEC Automation, a subsidiary of Qalaa Holdings, to develop the second phase of the Sarai project in New Cairo. This agreement, valued at over EGP 580 million, underscores Madinet Masr’s commitment to sustainable urban development and high-quality infrastructure in alignment with Egypt Vision 2030.
Madinet Masr and ASEC Automation Sign EGP 580 Million
The second phase of Sarai, encompassing 4.2 million square meters, will feature advanced road networks and infrastructure to serve 14 residential neighborhoods, with completion slated for 2026. Sarai’s strategic location—along the Cairo-Suez Road and near the New Administrative Capital—ensures excellent accessibility, enhancing its appeal as a fully integrated urban community.
Madinet Masr Expands Sarai with ASEC Automation
Speaking on the collaboration, Eng. Abdallah Sallam, President and CEO of Madinet Masr, emphasized: “Our focus remains on crafting integrated, sustainable communities that meet evolving customer expectations while contributing significantly to the national economy. This partnership with ASEC Automation is a testament to our strategy of leveraging cutting-edge technological solutions to drive innovation.”
Eng. Mohamed Abdel Razek, CEO and Managing Director of ASEC Automation, reiterated their commitment to delivering precision-engineered infrastructure solutions. “The scale of these investments reflects Madinet Masr’s dedication to elevating industry standards, creating job opportunities, and promoting sustainable growth.”
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The partnership with ASEC Automation further cements Madinet Masr’s leadership in Egypt’s real estate sector, demonstrating its capacity to deliver on ambitious goals while adhering to the highest sustainability standards.
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