Madinet Masr Announces the Launch of the Sheya Project in Sarai, Achieving EGP 5.10 Billion in Sales
The new mixed-use development project highlights a strategic expansion in Madinet Masr’s real estate portfolio. It features innovative residential units and advanced amenities near Egypt’s New Administrative Capital.
Madinet Masr Housing and Development is pleased to announce the launch of its latest project, Sheya, within the Sarai community, positioned strategically near the New Administrative Capital. This project encompasses an expansive area of 228,212 sqm and promises to deliver 744 mixed-use residential units. Sheya offers various housing options, including 420 S-Villas and 324 diverse units such as apartments, studios, and duplexes, catering to a wide range of customer needs.
In addition to residential spaces, Sheya is designed to enhance lifestyle choices for its residents. Residents have exclusive access to a clubhouse, serene water lagoons, and lush green landscaping, creating a holistic living experience. This development reflects Madinet Masr’s commitment to enriching its community offerings and bolstering its market presence with innovative real estate solutions.
Abdallah Sallam, President and CEO of Madinet Masr, elaborated on the company’s vision: “At Madinet Masr, we are dedicated to utilising our substantial land portfolio of over 9 million sqm. Our approach focuses on delivering projects that are not only innovative but also diverse and integrated, ensuring they meet the evolving needs of our customers.”
Mohamed Lashien, Senior Vice President of Products, added, “The introduction of Sheya is a significant milestone in our 65-year history. It represents a valuable addition to our portfolio, reinforcing our position in the real estate sector.”
Madinet Masr reported that the Sheya project has already achieved impressive sales figures, totalling EGP 5.10 billion. The project is scheduled for completion within the next four years, promising to be a landmark regional development.
Sarai’s development encompassing Sheya spans over 5.50 million sqm along the strategic Cairo-Suez Road and Al-Amal axis. This location benefits from proximity to major transit routes and essential services, enhancing the appeal of Sheya as a prime choice for prospective homeowners and investors.
In 2023, Madinet Masr’s consolidated net profit surged by 188.85%, a testament to the company’s robust growth and strategic market positioning. This financial success underscores the efficacy of Madinet Masr’s operational strategies and its commitment to shareholder value.