SNG: Egypt: Madinet Masr commences developing subsidiary in Dubai

About this update from Madinet Masr For Housing & Development

Staff WriterArab Finance: Madinet Masr began establishing a wholly owned subsidiary in Dubai under the name "Cities of the World”, according to a press release.Upon completion, the new unit will manage and oversee all Madinet Masr’s projects outside Egypt.This move aligns with Madinet Masr’s expansion strategy to reinforce its regional and international presence and unlock new opportunities across a range of real estate development sectors.Abdallah Sallam, President and CEO of Madinet Masr, stated: “We are confident this direction will enable us to enter promising markets while exporting our successful development model.”Meanwhile, the development group plans to appoint Mohamed Lashien, who is the company’s Senior Vice President of Product Development, as Managing Director of "Cities of the World".In the first quarter (Q1) of 2025, Madinet Masr reported contracted sales of EGP 11.5 billion.© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

View stock analysis, news, and events for Madinet Masr For Housing & Development