ZAWYA: Madinet Masr announces the purchase of 42.7 mln treasury shares

About this update from Madinet Masr For Housing & Development

Cairo – Madinet Masr (EGX code: MASR.CA), has announced the purchase of treasury stocks, which was approved by the Board of Directors on June 28, 2026. The program aims to purchase up to 2% of the company’s total shares.Madinet Masr will purchase 42.7 million shares, representing 2% of its total shares, through open market transactions, in full compliance with the regulatory guidelines issued by the Financial Regulatory Authority and the Egyptian Exchange.This move reflects the company's confidence in its financial performance and future growth prospects, which has been positively reflected in the stock's recent performance.The initiative aligns with the company’s longstanding commitment to maximizing shareholder value while maintaining a balance between operational growth and investment returns, in line with best practices in financial governance.About Madinet MasrMadinet Masr, one of Egypt’s leading urban community developers, was established in 1959. Headquartered in Cairo and listed on the Egyptian Exchange in 1996 (EGX), Madinet Masr operates under a robust corporate governance structure. It is committed to delivering exceptional value to all its stakeholders. Rebranded from Madinet Nasr to Madinet Masr in 2023, the company has become one of the most innovative real estate companies in Egypt, capitalizing on a long and successful track record of delivering distinguished and multi-functional developments that drive growth in Egypt by developing sustainable communities.Madinet Masr has become a prominent community developer and urban planner in Egypt after developing Nasr City, the largest neighborhood in Greater Cairo with a population of over three million people. Since then, It has actively taken on large-scale projects to transform sizeable land areas into contemporary, integrated communities.Today, Madinet Masr owns a land portfolio of 12.6 million sqm, with two renowned mega-developments, Taj City and Sarai, in East Cairo. Taj City is a 3.6 million sqm mixed-use development positioned as a premier destination, and Sarai is a 5.5 million sqm mixed-use development strategically located in front of Egypt’s New Administrative Capital. Madinet Masr launched Zahw in 2023, its first expansion project outside Cairo Governorate. Zahw is a 104-acre mixed-use development strategically positioned west of Assiut Governorate beside Assiut’s airport and 15 minu...

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