Egyptian Tycoon Abdallah Sallam's Madinet Masr Seals 9.5-million Taj City Deal
- Madinet Masr, Korra Energy ink 9.5 million deal to advance Taj City, boosting sustainable real estate in Egypt.
- the Partnership aims to build cutting-edge showroom in Tajed by 2025, setting new standards in urban living.
- Madinet Masr reports 88.9 profit surge in 2024, fueled by strategic investments and growing contracted sales.
Madinet Masr, a leading real estate developer led by Egyptian real estate tycoon Abdallah Sallam, has entered into a memorandum of understanding MoU with Korra Energy and Investment Projects to accelerate the development of Taj City, with a combined investment surpassing EGP480 million 9.5 million.
As part of the agreement, Korra Energy will lead the construction of a showroom in Tajed, a key component of Taj Citys broader mixed-use development. The project is set to be completed by 2025, according to a press release.
Strengthening market leadershipAbdallah Sallam, President and CEO of Madinet Masr, emphasized the strategic importance of this collaboration. These partnerships empower us to deliver cutting-edge, sustainable real estate projects that meet the ever-evolving needs of our clients while reinforcing our leadership in Egypt's real estate market, Sallam said.
Ayman Korra, President and CEO of Korra for Energy and Investment Projects, echoed these sentiments, highlighting the shared vision for sustainability. Together, we aim to build a sustainable future by leveraging global building technologies and adhering to the highest international standards, he noted.
Heba Korra, Vice President of Korra, added: Taj City is poised to redefine Egypts real estate landscape, combining quality, innovative design, and an unparalleled residential experience that meets customer demands while elevating the market's standards.