Madinet Masr (stock code MASR.CA), one of Egypt's leading urban community developers, announced the launch of "Sheya", the latest project in the company's flagship project "Sarai", spanning an area of 228,212 sqm and strategically located near the New Administrative Capital. The project is distinguished by its unique designs and variety of services in order to meet the needs and aspirations of Madinet Masr's clients. This launch comes in line with the company's growing performance and expansion plan as well as achieving record-breaking sales in 2023. "Sheya" offers a total of 744 mix residential units, including 420 S-Villas and 324 mix of apartments, studios and duplex. The project boasts a wide range of unique recreational facilities including: clubhouse, water lagoons, vast areas of green landscape in order to achieve prosperity to its residents. With the launch of "Sheya", Madinet Masr achieved total sales of EGP 5.1 billion, and the project is scheduled to be fully completed within 4 years. Commenting on the new launch, Eng. Abdallah Sallam, President and CEO of Madinet Masr said: "At Madinet Masr, we follow an ambitious strategy to develop our land portfolio that encompasses over 9 million sqm through providing innovative projects, integrated and diverse real estate concepts that meet the needs of the customers, provide them with an exceptional experience and a distinguished lifestyle, in addition to developing Egypt's real estate sector." Eng. Mohamed Lashien, Senior Vice President Products at Madinet Masr, added: "The launch of 'Sheya' project is considered a new valuable addition in Madinet Masr portfolio of successes that extends over 65 years. Due to the hard work and commitment of our team, we believe 'Sheya' will be a significant landmark in Egypt's real estate sector for its prime location, unique design and diverse recreational services it offers." The design of Sarai flagship project represents an unparalleled concept, tailoring the living experience to the unique needs and preferences of residents as it combines the vibrant modern lifestyle with the peacefulness that characterizes the suburbs, in addition to a variety of options in terms of spaces and units that include residential apartments, S-Villas, townhouses, and others. Sarai is a multi-purpose project which spans over 5.5 million sqm and located along the Cairo-Suez Road and Al-Amal axis. The project boasts a prime location merely 5-minute from the New Administrative Capital, which guarantees convenient accessibility.
