Madinet Masr has signed a memorandum of understanding (MoU) with Forward Contractors to execute construction works worth EGP 1.45bn at Sarai, the company's mixed-use development in East Cairo. The partnership forms part of Madinet Masr's growth strategy to expand its residential offerings, develop its land portfolio and accelerate project delivery while adhering to the latest sustainable urban development standards. Under the agreement, Forward Contractors will carry out the construction of 95 residential villas in the Rai project within Sarai, with completion scheduled by the end of 2027. President and CEO of Madinet Masr Abdallah Sallam said the partnership represents an important step in accelerating construction across the company's projects by collaborating with experienced contractors. "At Madinet Masr, we continue to develop our robust land portfolio through integrated and diverse projects, strengthening our ability to meet customer needs and support sustainable growth in Egypt's real estate market," Sallam said. Chairperson and CEO of Forward Contractors Mohamed El-Gendy said the company's experience in delivering high-end residential developments would help ensure quality execution and timely delivery. "Our expertise enables us to ensure exceptional quality and strict adherence to timelines, contributing to the project's success and meeting customer expectations," El-Gendy said. Sarai is one of Madinet Masr's flagship developments in East Cairo, designed to offer a tailored living experience that combines the vibrancy of modern urban life with the tranquillity of suburban living. The multi-purpose development spans more than 5.5 million square metres and is located along the Cairo-Suez Road and the Al-Amal axis. It offers a wide range of residential options, including apartments, S-Villas and townhouses.
