Strategic Partnership to Accelerate Development in New Cairo
Madinet Masr (EGX: MASR.CA) announced the signing of a Memorandum of Understanding (MoU) with Aboelwafa for Contracting & Real Estate Investment to execute construction works within the “Clubside” project at Taj City, with total investments reaching EGP 3.3 billion.
This partnership aligns with Madinet Masr’s strategy to accelerate project development while adhering to the highest standards of quality and sustainable engineering, responding to market needs and delivering long-term value to both investors and homeowners. The agreement also reinforces the company’s commitment to building long-term partnerships with trusted contractors to ensure the sustainability and success of its developments.
Construction of 40 Residential Buildings to Be Completed by 2027
The MoU was signed in the presence of Eng Abdallah Sallam, President and CEO of Madinet Masr, and Eng. Saad Mahmoud Muhammad Aboelwafa, Chairman of Aboelwafa Contracting & Real Estate Investment, along with senior executives from both companies.
Under the agreement, Aboelwafa will undertake the construction of 40 residential buildings, in addition to all related infrastructure works, with project completion scheduled for the end of 2027 This reflects both companies’ commitment to strict delivery timelines and the development of fully integrated, modern urban communities in East Cairo.
Madinet Masr: Long-Term Partnerships Drive Quality and Efficiency
Commenting on the MoU, Eng Abdallah Sallam stated that Madinet Masr prioritizes forming strategic, long-term partnerships with construction firms that demonstrate strong technical expertise and operational efficiency.
He emphasized that the continued collaboration with Aboelwafa represents a shared vision to deliver projects that match the scale and ambition of Madinet Masr’s developments. The MoU, he noted, marks a key step toward accelerating execution rates, enhancing construction quality, and meeting clients’ expectations while maintaining the company’s commitment to innovation and best-in-class practices.
Aboelwafa: Over 50 Years of Construction Expertise
For his part, Eng Saad Mahmoud Muhammad Aboelwafa expressed pride in partnering with Madinet Masr on the Clubside project within Taj City, describing it as one of East Cairo’s most prominent integrated urban destinations.
He highlighted that this collaboration reflects confidence in Aboelwafa’s more than 50 years of experience in the construction sector, as well as its ability to deploy advanced engineering capabilities to deliver projects with the highest levels of quality and efficiency. He reaffirmed the company’s commitment to clear execution schedules, precise technical standards, and delivering sustainable value while strengthening its long-term partnership with Madinet Masr.
Taj City: A Flagship Integrated Development in New Cairo
Taj City represents one of Madinet Masr’s flagship developments, building on the company’s 65-year legacy in the Egyptian real estate market. Spanning 3.5 million square meters, the project enjoys a prime location in New Cairo, along the Ring Road, and close to Cairo International Airport.
The development offers a modern, lifestyle-driven living experience, combining contemporary architectural design, advanced construction technologies, premium amenities, and modern retail concepts. These elements are seamlessly integrated within expansive landscaped areas that reflect the authentic Egyptian spirit, delivering a distinctive and well-balanced residential environment.
Aboelwafa Contracting: A Leading Integrated Service Provider
Founded in 1974, Aboelwafa Contracting & Real Estate Investment has established itself as a key player in Egypt’s construction and contracting sector. The company delivers high-quality projects across multiple sectors, including housing, healthcare, infrastructure, and education.
Through the adoption of advanced engineering technologies, the implementation of environmentally responsible practices, and a focus on smart and sustainable construction, Aboelwafa continues to strengthen its position as a trusted and integrated service provider in the Egyptian market.
