December, 2023

Madinet Masr Honors Fruitful Partnerships with 73 Success Partners with a Total Monetary Value of EGP 7 billion

Madinet Masr (stock code MASR.CA), one of Egypt’s leading urban community developers, organized a ceremony to celebrate the fruitful and strategic partnerships with its success partners, encompassing all third-party suppliers, with a total monetary value of EGP 7 billion achieved throughout 2023 divided into; EGP 5.3 billion for construction, EGP 1.35 billion for infrastructure, EGP 250 million for landscape, and EGP 100 million for consultancy services. The ceremony is a token of appreciation for the joint efforts and positive contributions of all companies in realizing Madinet Masr’s ambitious expansion plan, that aims to meet the diverse needs of its customers in accordance with the highest quality and sustainability standards.

The ceremony was attended by 73 companies of Madinet Masr success partners in the field of contracting, engineering, telecommunications, construction, suppliers and facilities including: Al Hazek, Al Shorouk Construction, Otis, Constec, Group Construction, Aboulwafa General Contracting, Elmarakby Steel, DMC, Ecology 360, NAQLA, Misr Steel, Medcom, ASEC, Madkour, Cemex, Unimix, Extru-Coat, Juzoor, Zaki Elsewedy Group, Telecom Egypt, Inshaa for development and construction, ACE, Nasr Civil Works, Al Maadi for Development and Construction, Build Up, Build More, Arkan, Sadek Elsewedy, Green Building, Premco Egypt, Misr Aluminum, Town Gas, Bedaya, Otak, Modern Gas, We Build, Devash control system, El Galala, Daghash Group, Al Qasmiyeh, Aman, Al Ahram For General Contracting, Kayan Construction, Leeds Fit-Out, sites, LG Rise, Ironica Industrial Investment, Giza Cable Industries, Aleman Group, Arab Organization for Industrialization, value real estate developments, Jotun, Duravit/Mazloum, Megalectric, Cleopatra, Khater Sports, Delta Construction, Araco, Beavers Decor, MB Group, Everest, Creative for landscape & general contracting, Tawakol, Insutech, Elkhalil Wood and Tabarak For Engineering & construction.

The ceremony offers an opportunity to acknowledge the partners who contributed to the success of Madinet Masr throughout 2023. This recognition is a result of their dedication to delivering services in alignment with the highest standards of efficiency and quality across the company's diverse projects. For its part, Madinet Masr aims to offer a comprehensive experience to its customers, fulfilling their needs through collaborations with prominent leaders in the industry. This approach aligns with the company's strategic vision, which aims to establish an innovative and dynamic environment in compliance with sustainability standards. Additionally, the company strives to make a positive impact on society and contribute to the development of the real estate sector in Egypt.

Commenting on this event, Eng. Abdallah Sallam, President and CEO of Madinet Masr said, “We are very proud with the joint success with our partners as we’re always keen to establish partnerships with prominent suppliers that share aligned strategic objectives that involve the latest technological solutions in line with the evolving real estate landscape in Egypt. The aim is to meet our customer expectations and positively contribute to the state's objectives for urban and sustainable development, thereby propelling economic growth. This gathering is an excellent opportunity to recognize our success partners in 2023 as we look forward to more fruitful partnerships in 2024 in line with our expansion vision for the future decades.”

It is noteworthy that among the notable partnerships throughout 2023 was the extension of the MoU with El Hazek Construction dedicated to constructing the final phase of “Shalya” project in Taj City along with the company’s new HQ with a total of EGP1.7 billion. This comes along the MoU signed with ASEC Automation (ASA), a subsidiary of Qalaa Holding, to execute the construction of 13 buildings in Lake Park project in Taj City, amounting to EGP100 million, among other collaborations.

Madinet Masr aims to develop its land portfolio, exceeding 9 million square meters, through establishing new residential units and projects adhering to the highest standards of efficiency and quality, stemming from the company's 64 years legacy in the real estate market.