Madinet Masr (EGX code: MASR.CA), one of Egypt’s leading real estate developers, has announced the signing a Memorandum of Understanding (MoU) with Korra For Energy & Investment Projects, a leader in building and constructions. This partnership aims to expedite construction at Taj City, the company’s flagship mixed-use project in New Cairo, with investments exceeding EGP 480 million. The collaboration underscores Madinet Masr’s robust economic performance and its unwavering commitment to adhering to delivery timelines as per the announced schedules and timeframes, further solidifying its leadership in the Egyptian real estate market.
The MoU was signed by Eng. Abdallah Sallam, President and CEO of Madinet Masr, Eng. Ayman Korra, President & CEO of Korra For Energy & Investment Projects and Vice President Heba Korra, in the presence of senior executives from both companies. Under this agreement, Korra Energi will execute the construction of a showroom in Tajed at Taj City. The construction is scheduled for completion in 2025, adhering to world-class standards to ensure maximum luxury, comfort, and value for customers.
Commenting on the partnership, Eng. Abdallah Sallam, President and CEO of Madinet Masr said: “At Madinet Masr, we firmly believe that strategic partnerships are pivotal to driving innovation and achieving sustained economic growth. By forging strong partnerships with trusted and leading entities, we create tangible value for our projects and customers. These partnerships empower us to deliver cutting-edge, sustainable real estate projects that meet the ever-evolving needs of our clients, while reinforcing our leadership in Egypt’s real estate market. Our vision aligns closely with the country’s urban development goals and Egypt Vision 2030, ensuring that we contribute meaningfully to the nation’s progress.”
Eng. Ayman Korra President & CEO of Korra For Energy & Investment Projects stated that: “We are proud of our partnership with Madinet Masr, one of the leading companies in the Egyptian market. Together, we share a vision of building a sustainable future, leveraging the latest global building and construction technologies while adhering to the highest international standards.”
Eng. Mohamed Lashin, Senior Vice President of Projects at Madinet Masr, added: “We’re excited to partner with Korra For Energy & Investment Projects to accelerate the pace of construction in Taj City, one of our flagship projects. This collaboration reflects our commitment to building sustainable communities that prioritize the happiness and well-being for residents. By combining our expertise in real estate development with Korra’s capabilities, we’re confident that this partnership will ensure the project is completed on time and according to the highest standards.”
From her side, Heba Korra, Vice President of Korra For Energy & Investment Projects, added that: “We are delighted to be part of this partnership which underscores our commitment to delivering innovative construction solutions that contribute to the development of Egypt’s real estate sector. We believe that Taj City will be a game-changer in Egypt’s real estate landscape, not only in terms of quality and design but also in offering an exceptional residential experience that caters to customer needs and solidifies the position of the Egyptian real estate market.”
Spanning 3.5 million square meters, Taj City is a flagship project and a testament to Madinet Masr’s 65-year legacy of leadership and excellence in the Egyptian market. With its strategic location in New Cairo on the ring road, Taj City is within proximity of Cairo International Airport, and minutes away from East Cairo, Downtown, and Heliopolis. The project seamlessly blends attractive residential complex designs with best-in-class facilities, innovative shopping concepts, a modern lifestyle, and a spectacular green landscape, that reflects the warmth, values, and rich history of Egyptian culture.