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- Preview of latest West Cairo project revealed to Cityscape visitors
- Madaar CEO: Expansion plans and investments worth EGP 8 billion in the pipeline for 2025
- Madaar CEO: Egypt’s real estate market primed for sustained growth amid strong demand
Cairo – Madaar Development, a leader in Egypt’s real estate market, is showcasing exclusive deals and flexible long-term payment plans at Cityscape Egypt 2024, solidifying its market presence with ambitious expansion plans and innovative offerings. Running from September 25 to 28 at the Egypt International Exhibition Center and welcoming over 40,000 visitors, Madaar is offering exclusive opportunities for prospective buyers at its flagship projects Azha Ain Sokhna and Azha Ras El-Hekma, with strategic plans for 2025 driving the company’s future growth.
Participating once again in Egypt’s largest real estate exhibition, Madaar is offering customers flexible purchasing options at Azha Ain Sokhna. Buyers can choose a zero down payment plan with eight-year installments or opt for a nine-year plan with a 10% down payment. For those preferring to pay cash payment, a 40% discount is available.
At Azha Ras El-Hekma, Madaar offers similar flexible plans, including a nine-year installment plan with zero down payment or a 10-year plan with a 10% down payment, alongside a 40% discount for cash payments.
In line with its growth trajectory, Madaar is previewing its newest residential project in West Cairo, a 250-feddan development in New Zayed that integrates residential, tourism, and commercial spaces. This project is part of a larger EGP 8 billion investment plan for 2025, aiming for a sales volume of EGP 20 billion.
“The real estate market in Egypt is highly attractive, with growing demand that far exceeds current supply levels,” said Ahmed Ehab, Madaar Development CEO. “Annually, the demand stands at 600,000 housing units, while the current market supply provides only around 200,000 units each year. Our strategic developments in Ain Sokhna and the North Coast align with this demand, offering investors and homebuyers unique opportunities.”
He emphasized that the market presents numerous investment opportunities in the New Administrative Capital, East Cairo, and West Cairo. However, the most appealing opportunity currently lies in the North Coast, particularly in Ras El-Hekma and its surrounding areas. The development project in Ras El-Hekma is expected to transform the region into a year-round destination, especially in light of the success of the Alamein Festival this year.
Ehab emphasized the potential in areas like the New Administrative Capital, East Cairo, and West Cairo, but noted that the North Coast, particularly Ras El-Hekma, remains the most promising given its transformation into an all-year destination, especially following the success of this year’s Alamein Festival.
Madaar has also fast-tracked its delivery schedules, with units at Azha Ain Sokhna set to be delivered a full year ahead of schedule. The project, currently 70% complete, is already home to 1,600 units that have been handed over to their new owners. Similarly, the Ras El-Hekma project is advancing rapidly, with units expected ahead of schedule.
Ehab asserted that the company is focused on expanding in the Egyptian market through its projects in Ain Sokhna, the North Coast, and its new project in Sheikh Zayed. The goal is to achieve a sales volume of EGP 12 billion by the end of 2024, with units worth EGP 6 billion already sold by mid-year. He noted that while the company is considering international expansion through partnerships, there are currently no specific projects underway.
With a target of EGP 12 billion in sales by the end of 2024 and EGP 6 billion already achieved by mid-year, Madaar continues to expand through projects in Ain Sokhna, the North Coast, and its new development in Sheikh Zayed. While international expansion is under consideration, no concrete plans have been announced.
About Madaar
Madaar Development was established in 2015, blending resort living with hospitality in the comfort of home. Following the success of its flagship project, Azha Ain Sokhna, the company launched Azha North in Ras El-Hekma in the North Coast, achieving great success thanks to its proven track record. With the backing of its sister company, one of Egypt’s leading hospitality firms, Sunrise Resorts & Cruises, Madaar has been able to provide a fully facilitated hospitality service that sets it apart from most real estate developers. The company focuses on consumer-centric destinations designed to enhance client comfort while fostering connections and building communities.
Media Relations Manager: Asmaa Ghoneim
Email: a.ghonem@vantage.com.eg