Madinet Masr (EGX code: MASR.CA) one of Egypt’s leading urban community developers, announced its consolidated financial results for the six-month period ended 30 June 2026, delivering continued growth in sales and revenue alongside a significant acceleration in construction and unit deliveries.
New sales increased by 18.7% year-on-year to EGP 28.4 billion, supported by strong demand across the company’s diversified project portfolio. Madinet Masr sold 2,971 units, representing a 70.9% increase compared with H1 2025. The recently launched co-development projects, Talala in New Heliopolis and The Butterfly in Mostakbal City, collectively contributed approximately 49% of total new sales during the period
The company delivered 1,200 units, more than double the 521 units delivered in H1 2025, reflecting the continued acceleration of construction activity across its flagship developments. Revenue from unit deliveries consequently increased by 187.8% year-on-year to EGP 2.5 billion.
Total revenue reached EGP 5.1 billion, an increase of 7.2% compared with H1 2025. Gross profit amounted to EGP 2.7 billion, representing a gross profit margin of 52.4%, while EBITDA reached EGP 1.3 billion with a margin of 25.5%. Net profit stood at EGP 1.0 billion, with a net profit margin of 20.0%.
Operational momentum was supported by construction and infrastructure expenditure of EGP 3.5 billion, primarily directed towards Taj City and Sarai. Madinet Masr also awarded construction contracts worth EGP 5.7 billion during the period, reinforcing its commitment to accelerating project completion and meeting delivery schedules.
Net cash collections increased by 38.0% to EGP 9.9 billion, while the uncollected rate improved to 1.0% from 1.8% a year earlier. Cash and short-term investments reached EGP 7.1 billion, enabling the company to move from a net debt position at year-end 2025 to a net cash position of EGP 163.3 million at the end of June 2026.
The company’s unrecognized revenue backlog increased by 10.1% from year-end 2025 to EGP 104.6 billion, providing strong medium-term revenue and cash-flow visibility.
Commenting on the results, Eng. Abdallah Sallam, President & CEO of Madinet Masr, said: “Madinet Masr delivered broad-based operational progress during the first half of 2026. We sustained growth in sales and revenue, more than doubled unit deliveries and strengthened our cash position, while continuing to diversify our development platform. Our growing backlog and disciplined investment in construction provide a solid foundation for sustainable growth and long-term value creation.”
During the period, Madinet Masr continued to expand its non-residential portfolio through the launch of D2N, an integrated commercial district within Sarai, and KLOK, a mixed-use commercial and administrative development. These projects support the company’s strategy to monetize its 12.8 million sqm land bank across a broader range of asset classes and develop recurring income streams alongside its residential business.
In parallel, our shareholders saw remarkable returns during the first half of the year, reflected in a historic rise in our share price on the EGX and boosted by a bonus share distribution and cash dividends. This equates to an exceptional 84% return for our shareholders compared to the end of 2025. The Board additionally approved a treasure share purchase program up to 2% of the company’s total shares, reflecting our confidence in the company’s outlook and our ability to further generate higher returns for shareholders.
