Egyptian Real Estate Tycoon Abdallah Sallam's Madinet Masr Hits 911 Million In 2024 Contract Sales
- Madinet Masr's 2024 contract sales hit 910.98 million, marking a 31.9 year-over-year increase, driven by key developments like Taj City and Sarai.
- The company expanded its portfolio with new commercial ventures like Tajed and Theqa, while forming partnerships, including with Klub Kayan and Midar.
- Madinet Masrs market position is supported by its 12.7 million square meter land portfolio and commitment to urban development aligned with Egypt's Vision 2030.
Madinet Masr Housing and Development, a leading real estate developer led by Egyptian real estate tycoon Abdallah Sallam, delivered impressive results at the end of its 2024 fiscal year , with total contract sales reaching 911 milliona 31.9 percent increase over the previous year.
This was driven by the companys strategic growth and expansion, particularly the sale of more than 4,700 units across key developments like Taj City, Sarai, and The Butterfly in Mostakbal City. Madinet Masr has proven its ability to meet market demands with innovative, high-quality projects and a diversified land portfolio, positioning itself as a leader in an ever-evolving real estate market.
Strategic partnerships strengthen market positionThe company's strong performance in 2024 marked a milestone, driven by an expanding land portfolio and the launch of diverse projects. In addition to residential units, Madinet Masr ventured into new commercial and service offerings, such as Tajed, its first integrated commercial district, and Theqa, an innovative property warranty service.
The company also formed a strategic partnership with Klub Kayan to establish the regions first Swiss international sports school. Collaborations with Midar, Misr Al-Gadida, and Zahraa Maadi further solidified Madinet Masrs standing in the market.
Abdallah Sallam attributed the companys strong sales to its commitment to urban development and sustainability. Our results reflect the hard work of our team and the trust our customers place in Madinet Masr, Sallam said. We are focused on enhancing our land portfolio and delivering solutions that align with Egypts Vision 2030.