Madinet Masr, a leading Egyptian real estate developer, has signed a strategic partnership with GTCI Constructors for Energy & Infrastructure Projects, a subsidiary of Al Tawakol Group, in a deal exceeding EGP 263 mn, Invest-Gate reports.
The collaboration focuses on expanding water and irrigation tanks in the Taj City development, with project completion expected by 2025.
The signing ceremony was attended by key figures, including Abdallah Sallam, President and CEO of Madinet Masr, and Mohamed Tawakol, Chairman of GTCI. Senior executives from both companies also participated, highlighting the partnership’s significance.
Under the agreement, GTCI will implement high-standard infrastructure works in Taj City, aligning with Madinet Masr’s ambitious expansion plans. This collaboration reinforces the developer’s position as a leader in Egypt’s real estate market while advancing its vision for integrated urban communities.
“Strategic partnerships are fundamental to our mission of exceeding customer expectations and delivering sustainable urban developments,” Sallam said.
Tawakol emphasized the partnership’s role in strengthening both companies’ market positions, adding, “This collaboration aligns with our commitment to sustainable solutions in infrastructure and power.”
Sameh H. Gemei, CEO of GTCI noted the project’s potential to enhance GTCI’s capabilities and operations within Egypt. Mohamed Lashin, Senior Vice President of Projects at Madinet Masr, highlighted the partnership’s alignment with Egypt’s Vision 2030, calling it a pivotal step toward building sustainable communities.