Abdallah Sallam's Madinet Masr Signs 11.6 Million Deal For Development Project

Madinet Masr, a leading real estate developer led by Egyptian real estate tycoon Abdallah Sallam, has secured an 11.6 million deal with ASEC Automation to advance the second phase of infrastructure and road networks for its Sarai development in New Cairo, Egypt.

This partnership underscores the companys strategic focus on expanding its presence in Egypts high-growth real estate market through key collaborations. The deal is part of Madinet Masrs broader expansion strategy, reinforcing its dominant market position with an extensive land portfolio exceeding 12 million square meters.

Spanning 4.2 million square meters, Sarai development supports the companys land expansion strategy with world-class infrastructure. The second phase, featuring 14 residential neighborhoods, is set for completion by 2026 and aligns with Egypts Vision 2030 for sustainable urban development and high-quality living spaces.

Abdallah Sallam, President and CEO of Madinet Masr, highlighted the company's commitment to sustainable urban development aligned with Egypts Vision 2030. He emphasized leveraging technology and innovation to deliver exceptional services, contributing to the national economy and staying ahead in Egypt's growing real estate market.

Mohamed Abdel Razek, CEO of ASEC Automation, a Qalaa Holdings subsidiary, highlighted the companys partnership with Madinet Masr to advance the Sarai project. He emphasized ASECs commitment to delivering high-quality infrastructure that aligns with Madinet Masrs vision for exceptional living experiences, while supporting Egypts goals of youth employment and sustainable growth.