MIDAR for Investment and Urban Development, the founding and master developer of “Mostakbal City” and “MADA” in East Cairo, continues to assert its leadership in the Egyptian real estate development sector through ambitious expansion plans that reflect a comprehensive future vision, Invest-Gate reports.

In this regard, Eng. Ayman Elkousey, Managing Director and CEO of MIDAR for Investment and Urban Development, discussed the company’s ambitious vision and future plans. Elkousey confirmed that MIDAR aims to achieve a qualitative transformation in the concept of urban development through large-scale projects based on sustainable smart city standards.

He noted that the company owns a total land area of 46 million square meters, distributed between “Mostakbal City” and “MADA,” both designed to meet the needs of future generations while incorporating the latest technological innovations.

Elkousey highlighted that “Mostakbal City,” one of the most significant fourth-generation cities, has proven successful as a model for smart cities, attracting over 20 developers and investors, and currently accommodating approximately 500,000 residents.

The total investment value in the city has exceeded $7 billion, making it one of the most prominent fourth-generation smart cities in Egypt. Based on this success, MIDAR announced the launch of the “MADA” project in 2024, which spans 25 million square meters and aims to accommodate 500,000 residents, with investments expected to reach $14 billion.

“MADA” will be among the first fifth-generation cities in Egypt, leveraging artificial intelligence and the Internet of Things (IoT), thereby enhancing MIDAR’s position as a leading developer in the field of smart cities.

Elkousey emphasized that MIDAR was the first Egyptian company to obtain an IoT license from the Telecommunications Regulatory Authority, promoting the use of advanced technology in its cities to improve the quality of life for its residents. He added that the company relies on smart infrastructure that supports integrated systems for managing transport, energy, and utilities, aiming to provide sustainable and environmentally friendly solutions.

As part of its efforts to achieve sustainability and enhance its ability to offer integrated services for investors and developers, Elkousey noted that MIDAR has established a group of specialized service companies to support its cities. These include “CIRCUIT,” responsible for electricity distribution and power station maintenance; “WAYZ,” which develops sustainable and environmentally friendly transportation solutions; and “CTRL,” focused on city facility management.