MIDAR aims to lead in the field of smart megacities by developing advanced and sustainable cities, including “Mostakbal City” and “MADA.”
Engineer Ayman Elkousey, during a television interview on CNBC, stated that MIDAR’s investments in “Mostakbal City” have surpassed $7 billion, while “MADA” targets $14 billion with plans for local and regional expansion.
MIDAR Expands Operations in Egypt, Partnering with Top Regional Developers to Shape Future Cities and Communities.
MIDAR
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. These plans include increasing investments in new projects at both local and regional levels, aiming to enhance its capabilities in line with Egypt’s Vision 2030 for sustainable development, focusing on infrastructure development and improving quality of life.
During a television interview on CNBC, Engineer Ayman Elkousey, Managing Director and CEO of MIDAR for Investment and Urban Development, explained the company’s ambitious vision and future plans. Elkousey confirmed that MIDAR seeks to achieve a qualitative transformation in the concept of urban development through massive projects based on sustainable smart city standards. Elkousey pointed out 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, incorporating the latest technological innovations.
The CEO of MIDAR highlighted that “Mostakbal City,” one of the most important fourth-generation cities, has proven successful as a model for smart cities, attracting more than 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 4th generation smart cities in Egypt. Based on this success, MIDAR announced the launch of the “MADA” project in 2024, which extends over an area of 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, relying on artificial intelligence and the Internet of Things (IoT), 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, which promotes the use of advanced technology in its cities to improve the quality of life in its communities. Elkousey 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 the company’s efforts to achieve sustainability and enhance its ability to provide integrated services for investors and developers, Elkousey noted that MIDAR has established a group of specialized service companies to support its cities, such as “CIRCUIT,” responsible for electricity distribution and power station maintenance, “WAYZ,” which develops a sustainable and environmentally friendly transportation solutions, and “CTRL” for city facility management.
Engineer Elkousey explained that the geographical location of MIDAR’s lands represents a significant competitive advantage, as they are located in a strategic area in East Cairo, making it a pivotal point between New Cairo and the New Administrative Capital.
The location is characterized by its proximity to a comprehensive network of modern transportation means, such as the monorail, light rail transit (LRT), and high-speed trains, along with new roads and axes. This unique connectivity enhances the value of MIDAR’s cities as investment hubs, providing the ideal balance between residential and commercial areas, supporting the company’s vision of creating integrated and sustainable cities.
Elkousey added that MIDAR enjoys strong financial support from major banking institutions such as Banque Misr, the National Bank of Egypt, and the National Investment Bank. These partnerships contribute to providing financial flexibility and discipline, ensuring the execution of the company’s vision with high quality and efficiency, while also enhancing the confidence of local and regional investors in MIDAR’s ability to achieve its ambitious vision.
In conclusion, Engineer Ayman Elkousey stated that MIDAR’s future vision extends beyond the local market, as the company has set an ambitious plan for expansion into regional markets in line with its strategy to enhance its presence in the region. He explained that the company is currently negotiating with prominent regional developers to enter into strategic partnerships aimed at developing major residential and commercial projects. These projects, focusing on sustainability and integration, target the growing needs of the regional market and offer an innovative model for urban development.
