Madinet Masr, a prominent urban community developer in Egypt, has forged a strategic partnership with Redcon Spain Construction, a renowned construction firm, to expedite construction activities within the Sarai mixed-use project in New Cairo, Invest-Gate reports.
This collaboration underscores the company’s unwavering dedication to meeting the agreed-upon schedule.
The signing ceremony was graced by Eng. Abdallah Sallam, President and CEO of Madinet Masr; Eng. Tarek El Gamal, Chairman of Redcon Spain Construction; Mr. Amal Abdelwahed, Vice Chairman and Managing Director of Redcon Spain Construction; and senior executives from both entities.
Within this collaborative venture, Redcon Spain Construction will spearhead the construction of the Z Villas in the East Wave project within Sarai, with investments exceeding EGP 600 million. The construction is slated for completion in 2025, adhering rigorously to the highest international quality benchmarks to ensure utmost luxury and comfort for patrons.
Eng. Abdallah Sallam, President and CEO of Madinet Masr, remarked on the MoU signing, stating, “Our company’s economic performance is witnessing substantial growth, propelling us to further enrich and broaden our partnerships with leading enterprises. This strategic move resonates with Madinet Masr’s brand identity, customer trust, and our commitment to sustainable urban development. We take pride in this strategic alliance with Redcon Spain Construction, confident that it will surpass our customers’ expectations, reinforcing our leadership in real estate development.”
Additionally, Sallam emphasized, “Sarai embodies an innovative mixed-use concept seamlessly blending modern urban sophistication with the serenity of suburban living. We are dedicated to maximizing the potential of its expansive 5.5 million sqm area to offer residents the pinnacle of luxury.”
Notably, Sarai artfully merges contemporary urban lifestyles with the tranquility emblematic of suburban settings, offering an array of residential spaces and units, including apartments, S-Villas, townhouses, amidst extensive green expanses.
Encompassing over 5.5 million sqm, Sarai strategically occupies a prime location along the Cairo-Suez Road and Al-Amal axis, merely 10 minutes from the American University in Cairo, a 15-minute drive to the Ring Road, and a brief 5-minute distance from the New Administrative Capital, ensuring convenient accessibility.
