Madinet Masr (EGX code: MASR.CA), one of Egypt’s leading urban community developers, has inked a Memorandum of Understanding (MoU) with Group Construction, a company specialized in integrated construction services; to carry out construction works within Sarai, the company’s flagship mixed-use project in East Cairo.
This step comes in line with Madinet Masr’s expansion strategy aimed at accelerating the execution of its projects while upholding the highest standards of quality and engineering excellence.
The MoU was signed by Eng. Abdallah Sallam, President & CEO of Madinet Masr, and Eng. Sayed Elkattan of Group Construction, in the presence of senior executives from both companies. Under the agreement, Group Construction will undertake the construction of 80 residential buildings in “Rai Views” project within Sarai, with total investments amounting to approximately EGP 1.2 billion. The works are scheduled for completion by the end of 2027, reaffirming Madinet Masr’s dedication to meeting its planned timelines.
Commenting on the partnership, Eng. Abdallah Sallam, President and CEO of Madinet Masr, stated: “At Madinet Masr, we believe that strategic partnerships with trusted entities are the cornerstone of our vision to fast-track construction progress and deliver advanced real estate solutions that not only exceed our clients’ expectations but also create enduring value. Our collaboration with Group Construction embodies our commitment to working with partners who share our values, ambitions, and pursuit of excellence, applying the latest standards of innovation and world-class quality across every phase of development. We remain steadfast in our ambition to develop our robust land portfolio and build fully integrated, sustainable urban communities founded on advanced infrastructure, in alignment with Egypt’s national vision for comprehensive urban development.”
From his side, Eng. Sayed Elkattan of Group Construction, commented: “We are proud to partner with Madinet Masr, one of Egypt’s leading real estate developers, in the construction of “Rai Views” project within Sarai. This collaboration reflects our shared commitment to delivering projects that meet global construction standards and embody exceptional quality, aligned with customer expectations and Egypt’s broader urban development goals. Leveraging our extensive experience in construction and Madinet Masr’s ambitious vision, we are confident that this partnership will result in a landmark development that creates lasting value for Egypt’s real estate market.”
Sarai is one of Madinet Masr’s flagship projects in East Cairo. Its design embodies a unique concept that tailors the living experience to the individual needs and preferences of residents, blending the vibrancy of modern city life with the peacefulness of suburban living. It offers a diverse range of residential options, including apartments, S-Villas, townhouses, and others. Sarai is a multi-purpose project which spans over 5.5 million sqm and located along the Cairo-Suez Road and Al-Amal axis. The project boasts a prime location is just 5-minute from the New Administrative Capital, 10 minutes from the American University in Cairo, and 15 minutes from the Ring Road, which guarantees convenient accessibility.
الرابط المختصر: https://propertypluseg.com/?p=159499
