Madinet Masr, one of Egypt’s leading urban community developers, launches Elan, a mixed-use development within its 5.5 mn sqm Sarai community, Invest-Gate reports.

Sarai is located near the New Administrative Capital on Cairo-Suez Road. The launch is part of Madinet Masr’s expansion following its rebranding.

Elan includes more than 2,800 residential units with 347,043 sqm of space. Options range from 80 to 165 sqm apartments with gardens, 130 to 190 sqm penthouses, 80 sqm lofts, and 170 to 210 sqm duplexes. The units will be delivered within four years.

Spanning 356,000 sqm, Elan residents will have access to Sarai’s amenities like shopping, dining, an international school, a luxury hotel, and a lake. The project includes 9,000 sqm of commercial space.

The Elan launch follows the company’s rebranding to Madinet Masr, aiming to launch multiple projects across Egypt and regionally to maintain its leading position.

Madinet Masr reported EGP 1.015 bn revenue and EGP 304.4 in net profit in 1Q 2023, developing its land bank, supporting the state’s urban expansion, and meeting real estate demand.