Latest news with #MohamedLashien
Zawya
2 days ago
- Business
- Zawya
Egypt: Madinet Masr commences developing subsidiary in Dubai
Arab Finance: Madinet Masr began establishing a wholly owned subsidiary in Dubai under the name "Cities of the World', according to a press release. Upon completion, the new unit will manage and oversee all Madinet Masr's projects outside Egypt. This move aligns with Madinet Masr's expansion strategy to reinforce its regional and international presence and unlock new opportunities across a range of real estate development sectors. Abdallah Sallam, President and CEO of Madinet Masr, stated: 'We are confident this direction will enable us to enter promising markets while exporting our successful development model.' Meanwhile, the development group plans to appoint Mohamed Lashien, who is the company's Senior Vice President of Product Development, as Managing Director of "Cities of the World". In the first quarter (Q1) of 2025, Madinet Masr reported contracted sales of EGP 11.5 billion. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Madinet Masr sets up subsidiary in Dubai
Cairo – Madinet Masr Housing and Development has begun developing a wholly owned subsidiary in Dubai under the name 'Cities of the World', according to a press release. In line with Madinet Masr's strategic expansion plan, the new entity will manage the EGX-listed company's projects outside Egypt. This aims to strengthen the company's regional and global presence and unlock new opportunities across a range of real estate development sectors. Abdallah Sallam, President and 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." Madinet Masr also intends to name Mohamed Lashien, the company's Senior Vice President of Product Development, as Managing Director of Cities of the World. In the first quarter (Q1) of 2025, the development group posted 32.64% year-on-year (YoY) lower consolidated net profits after tax and non-controlling interest at EGP 793.85 million, versus EGP 1.17 billion. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Madinet Masr launches ‘Cities of the World' in UAE to drive regional expansion
Madinet Masr, one of Egypt's leading real estate developers, has announced the establishment of a wholly owned subsidiary in Dubai, United Arab Emirates, under the name 'Cities of the World.' The new entity will serve as the company's regional arm, responsible for managing all Madinet Masr projects outside Egypt. This strategic move marks a major step in the company's broader expansion plan, aimed at strengthening its presence across the region and tapping into new real estate markets. Through 'Cities of the World,' Madinet Masr seeks to export its proven development model and contribute to shaping sustainable, modern communities throughout the Middle East and beyond. Abdallah Sallam, President and CEO of Madinet Masr, commented: 'The launch of 'Cities of the World' is a key milestone in executing our vision for regional growth. It reflects our commitment to extending Madinet Masr's legacy beyond Egypt's borders and positioning ourselves as a leading player in the wider real estate landscape. We believe this step will unlock high-potential markets and create new opportunities aligned with our long-term goals.' As part of the announcement, Madinet Masr revealed its intention to appoint Mohamed Lashien, the company's Senior Vice President of Product Development, as Managing Director of 'Cities of the World' upon its official establishment. The decision highlights Lashien's extensive experience and successful track record in leading several of Madinet Masr's landmark developments. The move underscores Madinet Masr's ambition to evolve into a regional powerhouse while staying true to its core values and legacy. With over 60 years of history in Egypt's real estate market, the company continues to build on its foundation of quality, innovation, and community-focused development.
Egypt Today
3 days ago
- Business
- Egypt Today
Madinet Masr Begins the Process of Establishing a Subsidiary in the UAE Under the Name "Cities of the World" to Support Its Regional Expansion
Madinet Masr (EGX: 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 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.
Zawya
3 days ago
- Business
- Zawya
Egypt-listed developer Madinet Masr initiates regional expansion with UAE subsidiary
Egypt-based real estate developer Madinet Masr announced it has begun the process of establishing a wholly owned subsidiary in Dubai, UAE for managing its real estate activities outside Egypt. 'Initiating the process to establish 'Cities of the World' marks a significant milestone in executing our strategic goal of regional expansion,' said Abdallah Sallam, President and CEO of Madinet Masr. He added that the step positions the company at the forefront of regional real estate development beyond its home market. Madinet Masr also announced its intention to appoint Mohamed Lashien, Senior Vice President of Product Development, as Managing Director of "Cities of the World" once the subsidiary is officially established. A growing number of Egyptian developers, listed and private alike, are expanding their footprint with new project launches across the Gulf and broader Middle East. Last week, EGX-listed TMG Holding signed an agreement with the Iraqi government for a $17 billion mixed-use project in Baghdad, following major project signings in Saudi Arabia and Oman. Egyptian private developer Tatweer Misr told Zawya Projects last month that it is currently studying new investment opportunities in Saudi Arabia and Oman, with a project annoucement likely this year. In April 2025, Naguib Sawiris-owned ORA Developers launched Bayn, a 4.8 million square metre coastal community in the UAE in Abu Dhabi. Last year, the company was awarded a contract to develop a new mega residential city 'Ali Al-Wardi' in southeast of Baghdad. In January 2025, Al Ahly Sabbour Developments announced the launch of Wadi Zaha, the first neighbourhood in its project in Sultan Haitham City, Oman, with a total investment of 90 million Omani rials. (Writing by Marwa Abo Almajd; Editing by Anoop Menon) (
