Madinet Masr Signs MoU with SCAD to Develop Construction Works in Croons in “Sarai”

Madinet Masr، one of Egypt's leading real estate developers، signed a Memorandum of Understanding (MoU) with Smart Construction and Development (SCAD)، a specialized integrated contracting firm.

The agreement focuses on developing construction works for Sarai multi-purpose project in New Cairo with a contractual value of EGP 650 million. This collaboration aligns with Madinet Masr's ambitious vision to create sustainable urban communities that meet its customers’ aspirations. Under this partnership، Madinet Masr aims to accelerate the pace of its projects while maintaining the highest quality standards and adhering to the specified timetable.

Strategic partnership

The agreement was signed in the presence of Eng. Abdallah Sallam، President and CEO of Madinet Masr، Mr. Mahmoud Mohamed Abdel Gawad El Awady، Chairman of the Board of Directors of SCAD، and senior executives from both companies. Under this strategic partnership، SCAD will carry out the construction of residential buildings، landscape، fences، and surface drainage for several buildings in project Croons within Sarai. The project، which spans on a land area of 26،000 sqm، is expected to be completed within one year of the contract date.

Commenting on the partnership، Eng. Abdallah Sallam، President and CEO of Madinet Masr، said: "We are committed to providing the best services to our clients، and are pleased to collaborate with reliable and experienced partners like SCAD، who have a proven track record of success and share our ambitious vision for developing our flagship project، Sarai." Salam added: "At Madinet Masr، we believe in adding value to Egypt’s real estate market through our projects and meet our clients' aspirations by creating integrated modern communities. These communities not only boost the national economy but also blend sophistication، luxury، and sustainability."

For his part، Dr. Mahmoud El Awady، CEO of SCAD، expressed his great pleasure in this strategic partnership with a leading developer like Madinet Masr، emphasizing the importance of this collaboration in advancing urban development in Egypt through the combined expertise of both companies. El Awady praised Sarai project for its distinguished designs، which set a benchmark in the real estate sector saying: "We are excited to be part in this project by utilizing the latest engineering technologies and innovative sustainability standards. Our goal is to ensure that the project is executed to the highest standards of quality and efficiency، providing customers with a unique living experience that meets all their needs and aspirations."

Vibrant modern lifestyle

Sarai's design is based on an unparalleled concept، tailoring the living experience to the unique needs and preferences of residents. The project combines vibrant modern lifestyles with the tranquility characteristic of suburbs، offering a variety of spaces and units including residential apartments، S-Villas، townhouses، and others amidst vast green spaces. Spanning over 5.5 million sqm، Sarai is strategically located along the Cairo-Suez Road and Al-Amal axis. It is worth mentioning that the S-Villa is a new and innovative concept introduced to the Egyptian real estate marketby Madinet Masr. The project boasts a prime location just 10 minutes from the American University in Cairo، a 15-minute to the Ring Road، and a mere 5-minute distance from the New Administrative Capital، ensuring convenient accessibility.