Madinet Masr begins the process of establishing a subsidiary in the UAE under the name "Cities of The World"
This step comes as part of the company's expansion strategy to develop and manage projects outside Egypt.
Cairo – Madinet Masr (EGX: MASR.CA), one of Egypt's leading real estate development companies, announced that it has begun the process of establishing a wholly owned subsidiary in the Emirate of Dubai under the name "Cities of the World." Once finalized, the new entity will be responsible for managing and overseeing all Madinet Masr's projects outside the Arab Republic of Egypt.
This initiative is a key part of Madinet Masr's strategic expansion plan, which aims to strengthen the company's regional and international presence and unlock new opportunities across a range of real estate development sectors. The move reflects the company's long-term vision of developing sustainable and modern communities across the region.
Commenting on the announcement, Eng. Abdallah Sallam, President & CEO of Madinet Masr, stated 'Initiating the process to establish 'Cities of the World' marks a significant milestone in executing our strategic goal of regional expansion. This step reflects our dedication to extending Madinet Masr's legacy beyond national borders and positioning ourselves at the forefront of regional real estate development. We are confident this direction will enable us to enter promising markets while exporting our successful development model.'
Madinet Masr also announced its intention to appoint Eng. Mohamed Lashien, the company's Senior Vice President of Product Development, as Managing Director of "Cities of the World" upon the company's official establishment. This decision reflects his extensive experience in the real estate sector and his leadership of several landmark projects in Egypt.
This milestone underscores Madinet Masr's ambition to grow its regional footprint while maintaining the company's core values and legacy built over more than sixty years in the Egyptian real estate market.
About Madinet Masr
Madinet Masr is one of Egypt's leading urban development companies, with a legacy that dates back to 1959. With a commitment to sustainable growth, innovation, and community enrichment, Madinet Masr has played a pivotal role in shaping the urban landscape of Cairo and beyond.
The company is renowned for developing landmark residential, commercial, and mixed-use projects that integrate quality living with forward-thinking design. Flagship developments such as Taj City and Sarai reflect Madinet Masr's vision of building inclusive, future-ready communities that prioritize livability, accessibility, and long-term value.
Madinet Masr boasts a robust landbank of 12.8 million square meters, enabling long-term development plans and a strong pipeline of future projects. This strategic asset base underscores the company's capacity to sustain growth and respond to evolving market demands.
Guided by its purpose — to drive growth in Egypt by developing sustainable communities — Madinet Masr is actively expanding its footprint across the country. The company leverages its deep market expertise, strategic partnerships, and customer-centric approach to deliver projects that enhance quality of life and foster long-term economic and social prosperity.
For more information, please visit: www.madinetmasr.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
38 minutes ago
- Arabian Business
UAE grants music management licence as streaming market tipped to hit $2.3bn
The UAE Ministry of Economy granted its second collective music management licence to Music Nation during a ceremony held at its headquarters in Dubai. The licence authorises the organisation to manage the distribution of rights on behalf of music creators and performers, while also ensuring nationwide compliance among music platforms. It comes as the streaming market is tipped to hit $2.3bn by 2030 and musical artists and producers in the region look to monetise works. UAE music management The announcement was made during an event attended by Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy, and Dr. Abdulrahman Hassan Al Muaini, Assistant Under-Secretary for Intellectual Property. The Ministry confirmed that the licence was issued in accordance with Federal Decree-Law No. 38 of 2021 concerning copyright and related rights. It marks the continuation of the Ministry's efforts to strengthen intellectual property frameworks in the UAE, following the first collective management licence awarded to the Emirates Music Rights Association in April 2025. Al Saleh said: 'Under the vision of our wise leadership, the UAE has placed strategic emphasis on enhancing the competitiveness of its cultural and creative industries, driving their growth both regionally and globally. 'Recognising their vital role in national economic growth, we are committed to fostering public-private collaboration to cultivate an enabling environment for talent and innovation. 'By elevating the creative economy's legislative framework to world-class standards, we aim to expand the private sector's participation in it, in line with the National Strategy for Cultural and Creative Industries 2031.' The Under-Secretary said: 'The Ministry remains committed to establishing a world-class copyright governance system, drawing on international best practices. We are achieving this through strengthening legal and regulatory frameworks, fostering investment in creative sectors, and implementing robust collective management systems. 'These measures safeguard intellectual property rights while building creators' trust in the nation's creative ecosystem.' 'The collective music management licence serves as a catalyst for cultural innovation while safeguarding artists' intellectual property rights. Through establishing transparent revenue distribution systems and fair compensation mechanisms, it elevates the UAE's music industry – enhancing its global competitiveness and positioning our nation as a premier hub for creative enterprises'. Al Saleh emphasised that awarding the licence to Music Nation marks a strategic milestone in the UAE's commitment to fostering creativity. The initiative unlocks new opportunities for artists, writers, and producers while strengthening rights protection and leveraging creative-economy tools – ultimately positioning the sector as a key driver of national economic growth. Dr. Abdulrahman Hassan Al Muaini said: 'Our music industry is witnessing remarkable growth, fuelled by an expanding ecosystem of creative enterprises and world-class events. Dubai alone boasts 350 live music venues, while the national streaming market generated $841.9m in 2024 – projected to nearly triple to $2.3bn by 2030. 'To sustain this momentum, the Ministry of Economy is prioritising robust legislative frameworks that will further catalyse the creative economy and foster artistic innovation. 'Building on last month's inaugural licence granted to the Emirates Music Rights Association, today marks another significant milestone with the official authorisation of Music Nation. 'We are actively collaborating with local and global partners, including industry associations and legal experts, to share best practices that drive sector growth. 'In tandem, we're expanding awareness initiatives to ensure artists, composers, and producers fully leverage these licences to protect both their creative works and financial interests.' Rasha Khalifa Al Mubarak, Chairwoman of the Board of Directors for Music Nation, said: 'Today marks a pivotal moment for the UAE and Music Nation. After years of careful planning, Music Nation is positioned to become a cornerstone of music licensing, empowering the Emirates' vibrant creative industry. ''As an Emarati, I am honoured to establish a world-class music rights infrastructure that not only elevates local artists to greater heights, but also showcases our rich musical heritage and cultural traditions to the world. 'In partnership with industry leaders BMI and SoundExchange, our cutting-edge technology and services will protect music rights holders and propel the UAE's music economy to new frontiers'.
Gulf Business
an hour ago
- Gulf Business
PureHealth expands Daman into property and casualty insurance
Image: Supplied Leading hospital and health insurance group PureHealth has announced the strategic expansion of its insurance arm, Daman, marking its transformation from a health-focused provider into a comprehensive, multi-line insurer with entry into the high-growth property and casualty (P&C) segment. As part of this evolution, Daman will adopt a new legal name: The National Insurance Company – Daman, reflecting its broadened scope and strengthened position within the UAE's dynamic insurance landscape. The transition reflects Daman's broader mission to meet the evolving protection needs of individuals and businesses across the emirates by offering them a broader suite of insurance services. As the insurance arm of PureHealth and the UAE's leading health insurer, Daman's expansion into the P&C segment supports its vision to become a comprehensive insurance provider and aligns with the group's commitment to deliver holistic care and coverage throughout all stages of life. Expansion part of PureHealth's broader strategy Shaista Asif, group CEO of PureHealth, stated: 'Daman's evolution reflects PureHealth's broader strategy to create a fully integrated healthcare and insurance platform that drives better customer service and long-term value creation. Expanding into the Property and Casualty segment enhances portfolio diversification, supports risk management across sectors, and reinforces our commitment to shaping a future-ready ecosystem aligned with the UAE's economic and social development priorities.' Khaled Binshaiban Almheiri, chairman of The National Insurance Company – Daman, commented: 'For nearly two decades, Daman has set the benchmark for health insurance in the UAE. This evolution marks a pivotal chapter – expanding our focus to offer a broader range of insurance solutions while maintaining the same rigour, trust and customer-first mindset our members know and value. By protecting individuals, businesses and assets, we are proud to play a central role in supporting the UAE's vision for sustainable wellbeing and long-term economic resilience.' Daman provides health coverage to more than three million members Daman currently provides health coverage to more than three million members across a network of over 3,000 healthcare providers in the UAE. Backed by a resilient operational backbone, Daman brings together AI-powered underwriting, industry-leading efficiency in claim settlement, and a multilingual service delivery infrastructure to seamlessly support its expansion into new insurance verticals, without compromising its longstanding reputation for excellence. As per the Central Bank of the UAE (CBUAE), the total number of written insurance policies for all types of insurance within the UAE increased to 14.6 million policies year-on-year in 2023, compared to 8.4 million policies in 2022, due to a higher number of property and liability insurance policies. The UAE's P&C insurance market is poised for further accelerated growth, which is projected to reach nearly $16.8bn by 2031, according to Verified Market Research. In response to this growing demand, the company will continue to operate under the well-established Daman was named the best perceived health insurance brand in the UAE, according to the UAE Healthcare 2024 report from Brand Finance – a recognition that reflects its commitment to excellence and mission to cultivate a healthier community. This strategic growth plan reinforces PureHealth's broader vision to advance the science of longevity and deliver the promise of holistic care, from prevention to protection, through a connected health and insurance ecosystem.
Arabian Business
an hour ago
- Arabian Business
Emirates to resume Dubai to Damascus flights
Operations were suspended to the Syrian capital in 2012, and the return of services follow a comprehensive evaluation in conjunction with the UAE General Civil Aviation Authority (GCAA). The airline will initially start with three weekly services on Monday, Wednesday and Sunday, with plans to expand to four weekly flights from August 2 with an additional flight on Saturday. Emirates Dubai to Damascus flights Emirates will expand its Damascus services to daily operations, effective October 26. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: 'Emirates is pleased to restart operations to Damascus and support Syria's road ahead by providing better choice and connectivity, essential economic links for inwards investment as well as opening new trade lanes and global market access for the country. 'Re-establishing air travel and connectivity is also good news for our customers that make up the expansive Syrian diaspora across the Americas, Europe and the GCC, who are eager to fly back home and reconnect to their roots, and leverage their knowledge, skills, expertise and resources in ongoing development efforts. 'We would like to thank the Syrian authorities for their support in strengthening connectivity between Dubai and Damascus and look forward to boosting links to and from the country through our regularly scheduled operations.' Emirates' services to Damascus will operate with a 302-seater Boeing 777-200LR. The flights will open up new opportunities for travellers to conveniently connect to and from the airline's network of nearly 150 destinations and will support the UAE's efforts to strengthen bilateral ties and support Syrian aspirations to rebuild and attract foreign investment across key sectors such as energy, construction and agriculture. Emirates commenced services to Damascus in 1988, and prior to suspending operations in 2012 the airline carried more than 2.1m passengers in and out of Syria. The airline currently flies to 13 cities in the Middle East/GCC, serving the region with a total of 191 weekly flights.
