Midar for Urban Development and Investment, master developer of several cities in East Cairo, will offer investment opportunities to regional and global developers in Mada City, a 5,800 feddan development in East Cairo Ready. The move follows Midar’s recent announcement as the private developer of Egypt’s largest integrated megacity.
Ayman Elkousy, CEO and Managing Director of Midar for Investment and Urban Development, said the company is already in negotiations with various international organizations that have expressed interest in investing in Mada City. said. These investments, in addition to involving a select group of leading local real estate developers, are aimed at developing entertainment, education, healthcare and large shopping areas. Mr. Elkousy stressed that the company’s goal within the framework of the city’s comprehensive plan is to attract unprecedented large-scale projects in Egypt across the entertainment, shopping, education and healthcare sectors.
Midar, which owns a land portfolio estimated at around 11,000 feddans in East Cairo, is currently evaluating these proposals based on the city’s comprehensive plan and the criteria Midar has set when selecting successful partners. . The company is keen to provide Mada City with a range of facilities to attract investments from Gulf and Arab countries.
Over the years, Midar City has attracted 26 Egyptian developers from the largest real estate development companies, specializing in the development of 40 projects in Mostaqbar City (launched in 2014), Midar City’s first city. . Mostaqbar City is one of the 4th generation cities and the city next to Mada, which is a new addition to Midar’s portfolio.
Ayman Elkouzy also announced the creation of several service companies for Midar-owned cities: Circuit to handle electricity distribution, Ways to manage transport and transportation systems, and Control to manage facilities.
Regarding the excellent location of the city of Midar, Elkouzy acknowledged that the province’s urban development projects in East Cairo, especially its proximity to the new administrative capital, further enhance its attractiveness.
The company plans to work with investors who have expressed interest in partnering and investing in projects of various sizes at Mada. These projects will offer a new type of integrated urban experience, coupled with contributions from world-class research and specialized international companies in urban planning, which represents an invaluable investment opportunity for Arab companies.
Midar for Urban Development and Investment Company was founded in 2006. In 2022, the company underwent a major transformation and presented the Egyptian market with a new concept: an integrated sustainable metropolitan master developer. In partnership with leading global, regional and local developers and investors, Midar owns the largest land portfolio (as a private company) in East Cairo. Their cities are home to about 1 million inhabitants, and the number of residents per city amounts to 500,000. So far, they have succeeded in attracting an estimated EGP 200 billion in investments.
The company’s model combines government-backed investments (shareholders) with private sector management, and leverages the financial and economic capabilities of organizations such as Misr Bank, National Investment Bank, National Bank of Egypt, and Arab Contractors Company. are benefiting from. These organizations contribute to Midar’s future vision and long-term development plans.
