Midar for Investment and Urban Development is launched to be an extension of El Mostakbal For Urban Development Company, one of the largest urban real estate companies specializing in the development of integrated modern residential and entertainment cities, Invest-Gate reports.

For his part, Ayman ElKousey, Managing Director and CEO of Midar states that this step is a continuation of the company’s great successes achieved during the past period. Midar is one of the first private companies to apply the “General Developer” concept, which promoted the New Cairo area as an attractive destination for major real estate developers inside and outside Egypt.

ElKousey confirms that the company’s expansion plan depends on applying an innovative concept in operating major cities at the highest international quality standards via making use of the latest techniques, with the support of specialized market studies that have been prepared by major international consultancy bureaus.

ElKousey adds that Midar’s ownership structure includes a group of the largest Egyptian financial entities: Banque Misr, the National Bank of Egypt, Misr Capital Company, one of Banque Misr’s investment arms, and the National Investment Bank, in addition to the selected elite of real estate development professionals in Egypt.

He also highlighted that Midar is selected as one of the major companies for privatization program and Pre IPO preparation by the government

Moreover, he said, “We always aim to provide and apply innovative solutions for environmental sustainability within our projects, the most prominent of which is the Mostakbal City.”

He adds, “Mostakbal City is the largest environmentally friendly integrated urban community, with a total area of 5,200 acres in the east of Cairo, comprising 28 urban, entertainment, educational, and commercial projects in its three phases, in addition to the distinguished network of facilities and infrastructure that Midar is implementing in the city.”

ElKousey asserted that the development plans of Mostakbal City are in full swing, as the company added various services, such as sports, services, and commercial projects.

In addition, the company is executing infrastructure works and connecting utilities, roads, water, electricity, communications, sanitary drainage networks, firefighting services, connecting natural gas, master planning and landscaping.

For the educational projects, MIDAR contracted with El-Rabwa Integrated for Educational Services Company, Artego for Educational Services “El-Lycee International French School,” Advanced Educational Services St.Fatima and El-Tarek Company.

Also, the company inked contracts with El-Rabwa for Real Estate Development, El-Rabwa Development and Project Management, Tawakol, New Capital for Petroleum Services, Emarat Misr, New Cairo for Petroleum Services, Arab Contractors for Facility Management one of the Arab Contractors Companies, Telecom Egypt and Banque Misr for development of several services projects.