Misr Al Gadida and Madinet Masr Sign Partnership Agreement for 491 Feddans in New Heliopolis.
Misr Al Gadida and Madinet Masr have signed a strategic partnership agreement for two land plots totaling 491 feddans in New Heliopolis, with projected revenues of EGP 70 billion for Misr Al Gadida over 12 years, and a guaranteed minimum of EGP 53.18 billion over 9 years. The total project area is 491 feddans, expected to generate revenues of EGP 194.4 billion over 12 years, of which Misr Al Gadida’s share amounts to EGP 70.9 billion, with a guaranteed minimum of EGP 53.18 billion payable over 9 years. The company’s revenue share stands at 36.5% of semi-finished units, plus 20% of finishing costs for fully finished units, maintaining a 36.5% participation rate. The project includes two plots:
- Plot 1: 245.1 feddans
- Plot 2: 246.31 feddans
Dr. Sameh El Sayed, Managing Director and CEO, stated that since November 2023 the company has successfully secured four major partnerships in New Heliopolis, with 3 developers reinforcing long-term revenue growth, sustainability, and shareholder value. These partnerships include:
- Ajad Developments on 77.91 feddans
- G Developments & Real Estate Investment on two plots: 894 feddans and 865 feddans
- Madinet Masr on 491 feddans
The total guaranteed minimum revenue across all partnerships is EGP 106 billion, with total projected revenues of EGP 166 billion, expected to reach EGP 200 billion over 15 years.
