Madinet Masr to venture into non-residential sector with bold expansion plans
Abdallah Sallam, CEO and Managing Director of Madinet Masr for Housing and Development, revealed that the company plans to expand into the non-residential sector in the near future. This strategic move is set to include the launch of new commercial projects, with 18,000 square meters of commercial space planned for the Tajed project by the fourth quarter of this year. This development will feature a major Carrefour branch alongside several other well-known retail brands.
Sallam emphasized that the commercial and administrative sectors are the future growth drivers for the company, with revenues from these sectors expected to significantly contribute to the company's long-term financial success.
In addition to expanding into commercial developments, Sallam disclosed that Madinet Masr will establish new subsidiaries this year. One of these subsidiaries will focus on hospitality and hotel room management, while the second company, whose details are yet to be revealed, will also be a key player in the company's diversification strategy.
Moreover, Sallam shared that Madinet Masr is on the brink of entering the Saudi market, with serious negotiations already underway. The company is also considering expansion into three additional international markets, including Saudi Arabia.
The company's land portfolio has experienced impressive growth, increasing by 34% in 2024, reaching a total of 12.8 million square meters. This marks the first significant expansion of Madinet Masr's land holdings in 65 years, signaling a bold new phase for the company.
On the marketing front, Sallam revealed that over the past three years, Madinet Masr has increased its marketing and advertising budget 20-fold compared to the company's historical spend since its inception, demonstrating its commitment to enhancing brand visibility and market positioning.
Looking ahead, Sallam reassured stakeholders that there is no immediate need for a capital increase, as the company remains on a strong growth trajectory. Madinet Masr's investments in 2025 are expected to double compared to the previous year, further underscoring the company's ongoing expansion and strategic initiatives.
As of now, the company's shareholder base has expanded to 18,000, reflecting its growing presence and appeal in the market. Established in 1959, Madinet Masr was initially launched to develop 40 million square meters of land in Nasr City and surrounding areas within Cairo Governorate. The company was listed on the Egyptian Exchange in 1995, marking a significant milestone in its growth journey.
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