Madinet Masr (EGX: MASR.CA) has announced the signing of a Memorandum of Understanding (MoU)
with Aboelwafa Contracting & Real Estate Investment to execute construction works for the “Clubside
project within Taj City, with a total investment value of EGP 3.3 billion This strategic move is part of
Madinet Masr’s ongoing commitment to accelerate development while upholding the highest standards
of quality, sustainable engineering, and meeting market demands It also reflects the company’s
continued dedication to establishing long-term collaborations with trusted partners to ensure the
success and sustainability of its projects
A Strategic Partnership to Drive Rapid Development
The MoU was signed in the presence of Eng Abdallah Sallam, President and CEO of Madinet Masr, and
Eng Saad Mahmoud Aboelwafa, Chairman of the Board of Directors of Aboelwafa Contracting & Real
Estate Investment Senior executives from both companies were also present at the event The
agreement includes the construction of 40 residential buildings and associated infrastructure, with the
project set to be completed by the end of 2027. This timeline underscores the commitment to delivering
high-quality developments on schedule while supporting the creation of fully integrated urban communities
Eng. Abdallah Sallam’s Statement on the MoU
Commenting on the MoU, Eng. Abdallah Sallam, President and CEO of Madinet Masr, stated: “At
Madinet Masr, we prioritize forming lasting strategic partnerships with companies that have proven
expertise in construction and contracting This collaboration with Aboelwafa Contracting & Real Estate
Investment is a testament to our commitment to ensuring that we execute high-quality, efficient
projects that align with our ambitious growth plans This MoU is a crucial step in accelerating project
completion, raising execution standards, and fulfilling our clients’ expectations, while maintaining our
focus on innovation and best practices
Aboelwafa Contracting: Over 50 Years of Excellence in Construction
Eng Saad Mahmoud Aboelwafa, Chairman of the Board of Directors of Aboelwafa Contracting & Real
Estate Investment, expressed pride in the partnership”We are honored to collaborate with Madinet
Masr on the ‘Clubside’ project within Taj City, one of the most prominent integrated urban communities
in East Cairo Our long-standing experience of over 50 years in the construction sector reflects our
ability to utilize advanced engineering and technical expertise to execute projects at the highest
standards. We are committed to adhering to clear timelines and precise quality standards, delivering
value to clients, and fostering a long-term partnership built on professionalism and mutual trust
Taj City: A Landmark Development in New Cairo
Taj City is one of Madinet Masr’s flagship projects, which spans over 3.5 million square meters and is
strategically located in New Cairo, adjacent to the Ring Road and near Cairo International Airport The
project combines a modern lifestyle with an attractive design that caters to the evolving needs of its
residents, offering state-of-the-art construction technologies, luxury amenities, and contemporary retail
concepts Taj City is set within expansive green spaces, creating a harmonious environment that
celebrates the warmth and cultural heritage of Egypt, ensuring a distinctive and elevated living experience for all residents
Aboelwafa Contracting: A Legacy of Quality in the Egyptian Construction Sector
Aboelwafa Contracting & Real Estate Investment, founded in 1974, has a distinguished legacy in the
construction industry across Egypt. The company has earned a reputation for delivering high-quality
products and services in various sectors, including healthcare, residential, infrastructure, and education
Aboelwafa prides itself on leveraging cutting-edge engineering technologies, employing effective
environmental practices, and delivering sustainable and smart projects The company has established
itself as a leading and influential service provider in Egypt’s construction and real estate sectors
Conclusion: A Milestone in Madinet Masr’s Expanding Vision
The MoU between Madinet Masr and Aboelwafa Contracting marks an important milestone in the
development of Taj City and other integrated urban communities in Egypt By combining expertise
resources, and a shared commitment to excellence, both companies are poised to deliver exceptional
living spaces that will enhance the Egyptian real estate market and provide sustainable value to
clients and investors
