Madinet Masr, one of Egypt’s leading urban community developers, has signed a Memorandum of Understanding (MoU) with ASEC Automation (ASA), a Subsidiary of Qalaa Holdings, to construct the second phase of infrastructure and road networks for Sarai in New Cairo, spanning over 4.2 million sqm, with investments exceeding EGP 580 million, Invest-Gate reports.

The MoU was signed by Abdallah Sallam, President and CEO of Madinet Masr, and Mohamed Abdel Razek, CEO and Managing Director of ASEC Automation, a subsidiary of Qalaa Holdings.

This strategic partnership underscores Madinet Masr’s commitment to its expansion strategy, supported by a robust land portfolio exceeding 12 million square meters. It also demonstrates the company’s dedication to delivering exceptional services through partnerships with top-tier engineering companies animplementingof advanced infrastructure solutions.

The second phase of the Sarai project will support 14 residential neighborhoods and is set to be delivered in 2026.

Commenting on this partnership, Sallam stated: “At Madinet Masr, we are deeply committed to creating integrated and sustainable urban communities that enhance the real estate sector and make a meaningful contribution to the national economy. This commitment aligns with the state’s objectives for comprehensive urban development and Egypt’s Vision 2030. Our focus is to deliver exceptional services to our customers by leveraging cutting-edge technological solutions and fostering a culture of continuous innovation. Through this effort, we aim to stay ahead of the remarkable growth in Egypt’s real estate market, ensuring our ability to exceed the ever-evolving expectations of our customers.”

For his part, Abdel Razek stated: “We are proud to cooperate with Madinet Masr, one of the leading real estate developers in Egypt, to contribute to the development of the Sarai flagship project. Leveraging our expertise in automation and electrical engineering, we are committed to delivering high-quality infrastructure solutions with precision and efficiency, aligning seamlessly with Madinet Masr’s vision of creating exceptional living experiences that cater to clients’ evolving needs.”