Press Release - Mar 2024
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The first-of-its-kind Property Warranty Solution to Maintenance Deposits Challenges.
Press Release - Jan 6, 2025
Madinet Masr believes in the importance of social solidarity and keenness to support the Egyptian society, especially during the holy month of Ramadan, to alleviate the burdens on Egyptian families.
Cairo, Egypt, 7 April 2024: Firmly committed to fostering social solidarity and dedicated to supporting Egyptian society, Madinet Masr (stock code MASR.CA), one of Egypt’s leading urban community developers, launched comprehensive community inititiaves in Ramadan. This initiative involves the distribution of 10,000 Ramadan Iftar meals in collaboration with "The Egyptian Food Bank" and preparing over 30,000 Iftar meals throughout Ramadan in partnership with "Al Joud Charity Foundation." These efforts with Al Joud Foundation are channeled through two Maedet Al-Rahman located in Taj City and Sarai, to significantly uplift the livelihoods of the most vulnerable families during Ramadan.
Madinet Masr strengthens its collaboration with "The Egyptian Food Bank" by distributing 10,000 Ramadan packages to the most vulnerable families across Egypt. These packages contain essential food commodities to sustain families throughout the holy month, underscoring the company's commitment to supporting local communities as an integral part of its strategy. Furthermore, Madinet Masr employees actively participated in packing food supplies alongside the EFB, which reflects the spirit of giving. This initiative is grounded in Madinet Masr's firm belief in the significance of community empowerment and promoting a culture of volunteerism.
As part of its robust community support and responsibility during Ramadan, Madinet Masr collaborates with "Al Joud Charity Foundation" by launching two Maedet Al-Rahman in Sarai, strategically located near the Administrative Capital, and in Taj City, New Cairo, to distribute over 1000 Iftar meals per day, totaling 30,000 iftar meals throughout the month of Ramadan.
For his part, Eng. Abdallah Sallam, President and CEO of Madinet Masr, said: “At Madinet Masr, we firmly believe in the paramount importance of social solidarity and our unwavering commitment to supporting Egyptian society, particularly during the month of mercy. We earnestly hope that our initiatives will significantly alleviate the burdens on Egyptian families and bring profound joy to their hearts."
He added, "We firmly believe in the crucial role of partnering with major charitable organizations to amplify our capacity for creating tangible, positive impacts on our society. Our team has shown unwavering dedication in providing support and assistance, and we take great pride in our collaboration with the Egyptian Food Bank and Al Joud Foundation to ensure food security for thousands of deserving families."
For her part, Dena Habib, VP Corporate Relations of Madinet Masr, said: “Madinet Masr is deeply committed to community responsibility endeavors aimed at enhancing the lives of the most vulnerable individuals, as part of our steadfast dedication to fostering sustainable development. This stems from our our unwavering commitement to creating sustainable communities across all aspects of our operations, economically, socially and environmentally and according to the highest quality standards.”
The long-standing partnership between Madinet Masr and "The Egyptian Food Bank" is extended over the years, with a steadfast goal of not only providing food to the needy but also meeting the daily essential requirements of the most vulnerable families. This includes supplying them with their nutritional needs during Ramadan. This strategic collaboration closely aligns with the EFB's overarching objectives in human development, striving for a decent life in accordance with Egypt Vision 2030 to achieve sustainable development.
The Al Joud Foundation, established in 2015, has steadfastly supported thousands of vulnerable families, aiming to alleviate their suffering and burdens. Through impactful charitable activities, including social initiatives and medical care, and with the support of its partners, the foundation has made significant strides in its mission.
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About Madinet Masr
Since 1959, Madinet Masr has served the housing needs of millions of Egyptians. Initially founded to develop master projects for the Cairo district of Nasr City, home to three million residents, Madinet Masr has grown into a premier real estate developer and has become one of the country’s most recognizable real estate brands. Madinet Masr was listed on the Egyptian Exchange in 1996, capitalizing on a long and successful track record of delivering world-class housing and infrastructure projects to broaden its exposure to various target segments of the Egyptian real estate market. Anchored in the Greater Cairo Area and with a growing presence in other regions of Egypt, the Company holds a land bank of over nine million square meters (sqm). Madinet Masr had 21 active projects across two main developments at the close of Q2 2023: Taj City, a 3.6 million sqm mixed use development positioned as a premier cultural destination, and Sarai a 5.5 million sqm mixed use development strategically located near Egypt’s New Administrative Capital between Cairo and Suez. Madinet Masr has launched Zahw, its first expansion project outside of Cairo Governorate. Zahw is a 104-acre mixed use development strategically positioned in west of Assiut Governorate beside Assiut’s airport and 15-minute away from its center. Zahw compliments the contemporary real estate products in Upper Egypt.
