Madinet Masr, one of Egypt’s leading urban community developers, has achieved a remarkable increase in total contractual sales, Invest-Gate reports.

During the fiscal year ending on December 31st, 2023, the company achieved sales amounting to EGP 34.95 bn, compared to EGP 11.2 bn during the same period in 2022.

This significant increase in Madinet Masr’s total contractual sales can be attributed to the adoption of a new strategy implemented since early 2023. Additionally, the success of partnerships and the launch of new projects within “Taj City” and “Sarai” have contributed to this achievement.

Taj City spans an area of 3.6 million sqm, while Sarai covers an area of 5.5 million sqm and is located in close proximity to the New Administrative Capital (NAC).

Furthermore, Madinet Masr introduced innovations into its operations through Madinet Masr Innovation Labs, its innovative arm. The company launched its first digital platform, “Touba,” which revolutionized the concept of purchasing and investing in the Egyptian real estate market. The platform offers flexible payment plans to cater to the diverse needs and aspirations of customers.

Eng. Abdallah Sallam, President and CEO of Madinet Masr, commented on this achievement, stating, “The outstanding results of the contractual sales are a testament to our efforts throughout a challenging year that we successfully overcame. Our ability to achieve this remarkable growth is a result of the company’s resilience, solid positioning in the real estate market, the trust of the company’s Board of Directors, the diligent efforts of our dedicated team, and the high quality of the innovative products and solutions that we offer.”