Madinet Masr, one of Egypt’s leading urban community developers, has announced its consolidated financial results for the 3-month period ended 31 March 2025 (Q1 2025), Invest-Gate reports.

This quarter marks a shift as Madinet Masr begins to report its results, including performance from its subsidiaries in construction, real estate investments, and related sectors.

The company reported a net profit of EGP 794.9 mn on total revenues of EGP 2.6 bn.

Gross contracted sales for Q1 2025 reached EGP 11.5 bn, reflecting a 22.9% decline compared to the same period last year. This decrease is attributed to a correction in the real estate market following record highs in 2024. However, the company achieved a remarkable increase in unit deliveries, with 1,013 units delivered—up 623.6% year-on-year from just 140 units last year.

Despite the increase in unit deliveries, total revenue saw a decline of 16.7% year-on-year, primarily due to a 23.4% drop in revenues from new sales as the market normalizes.

Gross profit for the quarter fell to EGP 1.7 bn, a 30.9% decrease, resulting in a gross profit margin of 65.2%.

Additionally, the company recorded EBITDA of EGP 1.0 bn, down 33.5% year-on-year, with an EBITDA margin of 40.7%.

On the balance sheet front, Madinet Masr improved its net debt position to EGP 675.3 mn, marking a 19.2% reduction compared to the end of FY 2024. Notes receivable increased to EGP 3.4 bn, enhancing the receivables/net debt ratio significantly.

Eng. Abdallah Sallam, President and CEO of Madinet Masr, expressed optimism about the quarter’s results, highlighting the significant growth in unit deliveries and the effectiveness of strategic initiatives aimed at boosting operational efficiency.

He acknowledged the market’s normalization but emphasized the company’s strong market position supported by a diversified portfolio.

Sallam also noted ongoing investments in innovative real estate solutions, which align with global trends and enhance customer offerings.

Looking forward, he is confident in Madinet Masr’s ability to sustain growth and deliver value to stakeholders, backed by a robust project pipeline and proactive market strategies. As the company navigates the evolving economic landscape, it remains committed to meeting the diverse needs of its customers and maintaining its leadership in Egypt’s real estate sector.