Madinet Masr Partners with Korra Energi to Accelerate Taj City Construction with Over EGP 480 Million Investment

Cairo, 27 January 2025: Madinet Masr (EGX: MASR.CA), a leading Egyptian real estate developer, has signed a Memorandum of Understanding (MoU) with Korra Energi, a prominent player in construction and energy solutions, to expedite construction activities at the company’s flagship mixed-use project, Taj City in New Cairo. The partnership involves investments exceeding EGP 480 million, reflecting Madinet Masr’s commitment to timely project delivery and its sustained leadership in Egypt’s real estate sector

The MoU was signed by Eng. Abdallah Sallam, President and CEO of Madinet Masr, Eng. Ayman Korra, President and CEO of Korra Energi, and Vice President Eng. Heba Korra, in the presence of senior executives from both companies. As part of the agreement, Korra Energi will oversee the construction of a state-of-the-art showroom in Tajed within Taj City. The project is set for completion in 2025, adhering to global quality standards to ensure a luxurious and comfortable experience for future residents

Strategic Partnership to Drive Innovation

Eng. Abdallah Sallam emphasized the importance of partnerships in fostering innovation and economic growth, saying: “At Madinet Masr, we believe that strategic collaborations with trusted entities drive value creation for both our projects and customers. This partnership aligns with Egypt’s urban development goals and Vision 2030, reinforcing our leadership in delivering cutting-edge, sustainable real estate projects that cater to evolving market needs”

Eng. Ayman Korra added: “We are proud to collaborate with Madinet Masr, a key player in Egypt’s real estate sector. Together, we aim to utilize advanced construction technologies and adhere to the highest international standards to shape a sustainable future”

A Commitment to Excellence

Eng. Mohamed Lashin, Senior Vice President of Projects at Madinet Masr, expressed excitement about the collaboration, stating: “This partnership reflects our shared vision of creating sustainable communities that enhance residents' quality of life. With Korra Energi’s expertise and our proven track record, we are confident in delivering the project on time and to the highest standards.”

Eng. Heba Korra, Vice President of Korra Energi, added: “This partnership highlights our dedication to providing innovative construction solutions that elevate Egypt’s real estate sector. Taj City is poised to set new benchmarks in quality and design, offering a unique residential experience that meets customer expectations”

About Taj City

Spanning 3.5 million square meters, Taj City is one of Madinet Masr’s flagship projects and a reflection of its 65-year legacy in the Egyptian market. Located strategically in New Cairo near the ring road, the development is close to Cairo International Airport, East Cairo, Downtown, and Heliopolis. Taj City blends modern architectural designs with vast green landscapes, state-of-the-art facilities, and innovative lifestyle concepts, creating a community that embodies the warmth and heritage of Egyptian culture

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Madinet Masr Partners with Korra Energi to Accelerate Taj City Construction with Over EGP 480 Million Investment