Madinet Masr for Housing and Development (EGX code: MASR.CA), one of the leading real estate development companies in Egypt, announced an agreement to develop a new project in New Heliopolis City. The project, spanning 491 acres, is in partnership with Heliopolis Company for Housing and Development, represented by Dr. Engineer Samah El-Sayed, the CEO and Managing Director. The project aims to offer a mix of diverse residential units, including luxury apartments, standalone villas, townhouses, and commercial projects, to meet the growing real estate market’s needs and create advanced and sustainable communities.
The project includes two land plots totaling 491 acres, with the first plot covering 245.1 acres and the second plot covering 246.31 acres. The total expected revenue for the project is EGP 194.67 billion over 12 years, with Madinet Nasr’s participation rate at 63.5%. Madinet Masr has paid the agreed contract down payment of EGP 1.11 billion upon signing the contract. The project launch is part of Madinet Nasr’s strategy to expand and grow its land portfolio and strengthen its presence in East Cairo, one of the most attractive real estate areas in Egypt.
The project is strategically located in the heart of New Heliopolis City, bordered by the Cairo-Ismailia Road to the north and the Cairo-Suez Road to the south. It is surrounded by Madinaty to the south, Shorouk City to the west, and New Badr City to the east. The location offers easy access to many vital areas: 5 minutes from the Cairo-Ismailia Desert Road, 5 minutes from Madinaty and Shorouk City, 10 minutes from the New Administrative Capital, 15 minutes from Rehab City and New Cairo, 20 minutes from Heliopolis and Nasr City, and only 35 minutes from the Ring Road and Cairo International Airport.
