Latest news with #Sallam
Egypt Today
17-04-2025
- Business
- Egypt Today
Under the auspices of the Supreme Council of Antiquities Madinet Masr Announces the Development of 'Buyut Al-Khalifa' Project in Collaboration with Built Environment Collective
Cairo, 15 April 2025 – Madinet Masr (EGX code: one of Egypt's leading urban community developers, has announced the launch of the 'Buyut Al-Khalifa' project to revitalize the urban fabric of Al-Rukbiyya Street in the heart of Historic Cairo. and to preserve endangered urban sites. The project is carried out in collaboration with the Built Environment Collective, in collaboration with the Supreme Council of Antiquities. This initiative aligns with Madinet Masr's CSR strategy, which focuses on the preservation and restoration of archaeological sites and historical buildings. Located in Historic Cairo – a UNESCO World Heritage Site – the 'Buyut Al-Khalifa' project aims to restore heritage buildings and rehabilitate the urban fabric while conserving the area's cultural identity and improving residents' quality of life. Spanning 3,000 square meters on Al-Rukbiyya Street, the project involves the restoration of two historic buildings, the refurbishment of 19 facades of modern buildings, and the development of 1,200 square meters of public spaces through paving, greenery, and lighting. The project also features the creation of two urban farms irrigated with groundwater harvested from the dewatering projects of listed monuments, enhancing and promoting heritage-based crafts, in addition to providing educational and professional opportunities. This reflects Madinet Masr's commitment to sustainable development, heritage conservation, and positioning Cairo as a global tourist destination. Commenting on the project, Eng. Abdallah Sallam, President and CEO of Madinet Masr, said: 'Community engagement is a cornerstone of our identity and vision. We are proud to take part in developing the Buyut Al-Khalifa project, which seeks to revive endangered urban sites, especially in archaeological and heritage areas. This initiative aligns with our 65-year legacy in the Egyptian market, during which we have played a pivotal role in developing integrated and sustainable urban cities and communities.' Sallam added: 'Our collaboration with the Built Environment Collective, and the Supreme Council of Antiquities is a true representation of strategic partnerships that create an added value for society and reflect our commitment to enhancing the quality of life for individuals and communities.' Dr. May Al-Ibrashy, Chairwoman of Built Environment Collective, commented: 'We are pleased to partner with a leading real estate developer like Madinet Masr to develop Buyut Al-Khalifa project. This represents a strategic partnership between the private sector and civil society to revive the urban essence surrounding the historical landmarks and buildings. The site's inclusion in the UNESCO World Heritage List due to its 'living heritage,' supports our belief that heritage is a key driver for development, not just a legacy of the past, but a foundation for shaping the future.' For her part, Dena Habib, Vice President of Corporate Relations at Madinet Masr, added: 'At Madinet Masr, we believe that sustainability is a fundamental element in all our operations. Buyut Al-Khalifa project reflects this commitment, as we are keen to achieve environmental, social, and economic sustainability. We always strive to partner with entities that share our values and vision of creating a positive societal impact. To that, our collaboration with Built Environment Collective reflects this vision; creating a sustainable urban environment that meets the needs of current and future generations while preserving Egypt's heritage and identity.' Buyut Al-Khalifa project is part of Built Environment Collective 'Athar Lina' (Heritage is Ours"الأثر لنا" ) initiative, launched in the Al-Khalifa area in 2012, which takes a participatory approach combining heritage conservation with socio-economic empowerment through traditional crafts and sustainable urban development. It also aligns with two national tourism development initiatives: the Citadel Square development, located 500 meters east of the site, and the 'Descendants of the Prophet مسار أحفاد النبي ' path, which passes through the area. Implementation of 'Buyut Al-Khalifa' project is set to begin implementation in May 2025 over three years. The project focuses on using eco-friendly materials and sustainable construction techniques, while improving quality of life and providing employment opportunities forming a comprehensive model for heritage conservation and local community development.
Tahya Masr
15-04-2025
- Business
- Tahya Masr
Madinet Masr Announces the Development of 'Buyut Al-Khalifa' Project to Revive Urban Heritage in Historic Cairo
Madinet Masr (EGX code: one of Egypt's leading urban community developers, has announced the launch of the 'Buyut Al-Khalifa' project to revitalize the urban fabric of Al-Rukbiyya Street in the heart of Historic Cairo. and to preserve endangered urban sites. The project is carried out in collaboration with the Built Environment Collective, in collaboration with the Supreme Council of Antiquities. This initiative aligns with Madinet Masr's CSR strategy, which focuses on the preservation and restoration of archaeological sites and historical buildings. Located in Historic Cairo – a UNESCO World Heritage Site – the 'Buyut Al-Khalifa' project aims to restore heritage buildings and rehabilitate the urban fabric while conserving the area's cultural identity and improving residents' quality of life. Spanning 3,000 square meters on Al-Rukbiyya Street, the project involves the restoration of two historic buildings, the refurbishment of 19 facades of modern buildings, and the development of 1,200 square meters of public spaces through paving, greenery, and lighting. The project also features the creation of two urban farms irrigated with groundwater harvested from the dewatering projects of listed monuments, enhancing and promoting heritage-based crafts, in addition to providing educational and professional opportunities. This reflects Madinet Masr's commitment to sustainable development, heritage conservation, and positioning Cairo as a global tourist destination. Commenting on the project, Eng. Abdallah Sallam, President and CEO of Madinet Masr, said: 'Community engagement is a cornerstone of our identity and vision. We are proud to take part in developing the Buyut Al-Khalifa project, which seeks to revive endangered urban sites, especially in archaeological and heritage areas. This initiative aligns with our 65-year legacy in the Egyptian market, during which we have played a pivotal role in developing integrated and sustainable urban cities and communities.' Sallam added: 'Our collaboration with the Built Environment Collective, and the Supreme Council of Antiquities is a true representation of strategic partnerships that create an added value for society and reflect our commitment to enhancing the quality of life for individuals and communities.' Dr. May Al-Ibrashy, Chairwoman of Built Environment Collective, commented: 'We are pleased to partner with a leading real estate developer like Madinet Masr to develop Buyut Al-Khalifa project. This represents a strategic partnership between the private sector and civil society to revive the urban essence surrounding the historical landmarks and buildings. The site's inclusion in the UNESCO World Heritage List due to its 'living heritage,' supports our belief that heritage is a key driver for development, not just a legacy of the past, but a foundation for shaping the future.' For her part, Dena Habib, Vice President of Corporate Relations at Madinet Masr, added: 'At Madinet Masr, we believe that sustainability is a fundamental element in all our operations. Buyut Al-Khalifa project reflects this commitment, as we are keen to achieve environmental, social, and economic sustainability. We always strive to partner with entities that share our values and vision of creating a positive societal impact. To that, our collaboration with Built Environment Collective reflects this vision; creating a sustainable urban environment that meets the needs of current and future generations while preserving Egypt's heritage and identity. Buyut Al-Khalifa project is part of Built Environment Collective 'Athar Lina' (Heritage is Ours"الأثر لنا" ) initiative, launched in the Al-Khalifa area in 2012, which takes a participatory approach combining heritage conservation with socio-economic empowerment through traditional crafts and sustainable urban development. It also aligns with two national tourism development initiatives: the Citadel Square development, located 500 meters east of the site, and the 'Descendants of the Prophet مسار أحفاد النبي ' path, which passes through the area. Implementation of 'Buyut Al-Khalifa' project is set to begin implementation in May 2025 over three years. The project focuses on using eco-friendly materials and sustainable construction techniques, while improving quality of life and providing employment opportunities forming a comprehensive model for heritage conservation and local community development.
Zawya
24-03-2025
- Business
- Zawya
Madinet Masr to venture into non-residential sector with bold expansion plans
Egypt - 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.
Daily News Egypt
23-03-2025
- Business
- Daily News Egypt
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.
Zawya
19-03-2025
- Business
- Zawya
Egypt's Madinet Masr in talks for Saudi, UAE expansion
Egyptian developer Madinet Masr is in talks with companies in Saudi Arabia and the UAE for possible joint ventures, its CEO has said. Abdallah Sallam said his EGX-listed company is negotiating with up to four developers and contractors in Saudi Arabia and two in the UAE. 'We are talking with 3 to 4 companies in Saudi Arabia…some of them have their own lands,' Sallam told Zawya Arabic. He declined to identify those companies apart from saying Madinet Masr could begin with the capital Riyadh to launch its partnership projects. 'We prefer to work with partners with knowledge in the market…this possible partnership may lead to an alliance to obtain new lands for development or to develop a land owned by a partner,' he said. As for the UAE, Sallam said the negotiations involve one local company and a foreign firm as part of plans to expand in that country. He also said Madinet Masr aims to double its investments in Egypt this year compared with 2024, when they stood at around $118.9 million. (Reporting by Safia Mounir; Translation by Nadim Kawach; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
