Egypt-based master developer MIDAR and Emaar Misr, the local subsidiary of Dubai-listed real estate giant Emaar Properties, have signed an agreement worth EGP 14 bn to develop the first integrated residential project in East Cairo, Invest-Gate reports.

The agreement involves the development of a 500 feddans residential complex by the EGX-listed Emaar Misr within MIDAR’s Mada master plan under a revenue-sharing model.

The Mada master plan is expected to attract total investments of EGP 100 bn in the coming years.

The new development will include residential areas alongside entertainment, educational, medical, and commercial services, creating a self-sustained community.

Speaking at the signing event, Mohamed Alabbar emphasised the strategic importance of the partnership with MIDAR, noting that it reflects strong confidence in Egypt’s real estate sector. He described Egypt as one of the most attractive markets for foreign investment in the region, reinforcing Emaar Misr’s commitment to long-term growth and development.