Madinet Masr has signed a memorandum of understanding with Forward Contractors for construction works worth EGP 1.45bn at its Sarai development in East Cairo. The deal covers building 95 residential villas in the Rai project within Sarai, set for completion by the end of 2027. This partnership supports the company's strategy to expand residential options, develop its land assets, and speed up project delivery while following sustainable urban standards.
Madinet Masr, a leading real estate developer, has entered into a memorandum of understanding with Forward Contractors to carry out construction valued at EGP 1.45bn for its Sarai mixed-use project in East Cairo. The agreement specifically targets the building of 95 residential villas in the Rai sub-project within Sarai, with work slated to finish by the end of 2027.
This collaboration aligns with Madinet Masr's broader growth plans, aimed at broadening its residential portfolio, enhancing land development, and hastening project timelines while upholding the newest standards for sustainable urban growth. Abdallah Sallam, the company's president and CEO, described the deal as a key move to speed up construction across its developments through ties with seasoned contractors.
"At Madinet Masr, we continue to develop our robust land portfolio through integrated and diverse projects, strengthening our ability to meet customer needs and support sustainable growth in Egypt’s real estate market," Sallam stated.
Mohamed El-Gendy, chairperson and CEO of Forward Contractors, highlighted his firm's track record in premium residential projects to guarantee top-notch execution and punctuality. "Our expertise enables us to ensure exceptional quality and strict adherence to timelines, contributing to the project’s success and meeting customer expectations," El-Gendy added.
Sarai stands as one of Madinet Masr's premier ventures in East Cairo, covering over 5.5 million square meters along the Cairo-Suez Road and the Al-Amal axis. The development provides diverse housing choices, such as apartments, S-Villas, and townhouses, blending the energy of contemporary city living with the calm of suburban settings.