Madinet Masr signed a memorandum of understanding (MoU) with Misr Engineering Development Company (MEDCOM) to implement infrastructure works in New Cairo’s project, Taj City, Invest-Gate reports.

The infrastructure scope will include the Taj Ville project, the Northern Road to Park Residence, Shalya, Lake Park, and Taj Gardens all located within Taj City. The total investments of the MoU amount to EGP 1 billion, and are projected to be finalized within 15 months.

It is worth highlighting that the MoU was signed by Abdullah Sallam, Madinet Masr’s President and CEO, and Amr Abdel Maksoud, a Board Member of MEDCOM.

Under the MoU, the infrastructure work will include the 143,536 sqm Taj Ville project (34 acres), and the 220,000 sqm Northern Road to Park Residence, Shalya, Lake Park, and Taj Gardens spanning a total of 52 acres.

MEDCOM will be responsible for constructing water networks, fire systems, sewage lines, roads, lighting, and utilities.

Madinet Masr’s President and CEO Abdullah Sallam said the deal will connect Taj City projects to improve traffic and provide modern services for residents, in line with Egypt’s urban development goals.

MEDCOM board member Amr Abdel Maksoud praised the opportunity to collaborate with one of Egypt’s leading real estate developers, saying MEDCOM is poised to support Madinet Masr’s expansion amid growth in the local property market.

Located on the ring road near Cairo International Airport and East Cairo, Downtown, and Heliopolis, the 3.5 mn sqm Taj City features residential complexes, shopping centers, and green spaces.