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The contract will be signed with Egypt’s MIDAR in Q3 2025 Majid Al Futtaim, the UAE-based developer and operator of shopping malls, communities, retail, and leisure projects across the Middle East, Africa, and Central Asia, plans to build a residential and hotel project in collaboration with Egypt-based master developer MIDAR, according to a news report. The project, covering 1,000 acres, will be located within the 5,800-acre Mada development in East Cairo, with the agreement expected to be signed in the third quarter of 2025, Ashraq Business, an Arabic financial website, reported citing an unnamed source. Mada, covering 6,032 acres, is positioned as Egypt’s largest entertainment city and MIDAR’s second master-planned development in East Cairo, following the 5,408-acre Mostakbal City. The Mada master plan is anticipated to attract total investments of 100 billion Egyptian pounds in the coming years. Last month, MIDAR and Emaar Misr, the local subsidiary of Dubai-listed real estate giant Emaar Properties, signed an agreement worth EGP14 billion to develop Mada’s first integrated residential project. (1 US Dollar = 50.63 Egyptian pounds) |
