Madinet Masr, a top Egyptian real estate developer, has announced a partnership with Midar for Investment and Urban Development to develop an integrated residential project, Invest-Gate reports.

Based on a revenue-sharing model, this collaboration will create a sprawling development over nearly one million square meters in the fourth phase of Al Amal Axis in Mostakbal City.

The project, covering an area of 238 feddans (approximately one million square meters), marks Madinet Masr’s strategic expansion. It aligns with Egypt’s ongoing urban development efforts and aims to meet the increasing demands of the real estate sector.

Moreover, Abdallah Sallam, President and CEO of Madinet Masr, expressed enthusiasm for the partnership, stating, “With over 65 years of legacy in the real estate sector, we always seek strategic partners who are trustworthy, credible, and possess the vision and ambition to create and build sustainable communities that foster growth and innovation.”

“We are proud to partner with Midar for Investment and Urban Development to implement a mixed-use urban community that adds value to its residents through its prime location and innovative designs, making it an ideal destination for those seeking a modern and comfortable lifestyle,” Sallam added.

Furthermore, Ayman ElKousey, CEO and Managing Director of Midar for Investment and Urban Development, expressed his satisfaction with the collaboration and emphasized Midar’s commitment to partnering with leading developers to provide unique, integrated experiences and services.

“The partnership with Madinet Masr aims to develop one of the most distinguished land plots in Mostakbal City, ensuring continuous support in developing projects within Midar cities,” ElKousey added.

Notably, this new project is expected to contribute significantly to Egypt’s urban development. It offers a blend of residential and commercial spaces designed to meet contemporary living standards.