Madinet Masr and its CEO Receive Awards from Prestigious Institutions for their Pioneering Impact in the Egyptian Real Estate Market

Madinet Masr and its CEO Receive Awards from Prestigious Institutions for their Pioneering Impact in the Egyptian Real Estate Market

The acknowledgement of Madinet Masr amongst Forbes ME Top 50 Listed Companies in Egypt in 2023 is a testament to its impressive performance and innovative vision of its CEO

Cairo, 15th January 2024 – With a remarkable growing performance and record-breaking sales, Madinet Masr (Stock Code MASR.CA), one of Egypt’s leading urban community developers, concludes 2023 with many successful achievements which further strengthened its established position among the top leading real estate developers in Egypt. Madinet Masr and its CEO are recognized by several prestigious international and local institutions which is a testament of their leading and pioneering role and strong performance in the Egyptian real estate market.

One of the key drivers to this recognition is the company’s extensive expertise, vast growth and solid financial results in 2023, witnessing record- breaking sales in 2023.

Due to the diligent efforts of a team work under the leadership of Eng. Abdallah Sallam, President and CEO of Madinet Masr as well as the most innovative offerings and solutions introduced throughout the year, Madinet Masr was listed by Forbes Middle East Magazine as one of Egypt’s Top 50 Listed Companies in 2023, based on the financial information and data of companies listed on the EGX for market value, sales, total assets, and net profits. The company was also recognized as “Best Performing Real Estate Company in Egypt 2023” by Global Business Magazine, “Best Performing Real Estate Company 2023” from World Business Outlook, and “Best Investor Relations in Real Estate for Egypt 2023” by The Global Economics Awards. Additionally, the company was recognized as “Fastest Growing Real Estate Company 2023” from International Business Magazine along with other awards from Brands and Business Magazine and other recongitions from local publications including Daily News Egypt and Amwal Al Ghad magazine “Top 100 Companies” award.

Stemming from its pioneering role in providing innovative solutions to address its diversified customers’ needs as well as overcoming the obstacles of investment and ownership of real estate, Madinet Masr launched through its innovative arm, Madinet Masr Innovation Labs, its first digital platform “Touba” to revolutionize the concept of purchasing and investing in the Egyptian real estate market through various flexible payment plans to cater to its customers’ needs and aspirations.

In terms of innovation, Madinet Masr heavily invested in youth ideas to highlight their creativity which qualified the company to be acknowledged as the “Most Innovative Urban Developer in Egypt in 2023” by the Global Brand Magazine, in addition to the “Most Innovative Real Estate Company in Egypt for 2023” from World Economic Magazine.

In the realm of leadership, Eng. Abdallah Sallam was recognized as the “Real Estate CEO of the Year 2023” by World Business Outlook, and “Best Emerging CEO in Real Estate Industry 2023” by The Global Economics Magazine.

Eng. Abdallah Sallam, Madinet Masr’s President and CEO, said, “We take pride for being acknowledged by these institutions, which reflect the tireless efforts of our team to achieve outstanding results. These awards demonstrate Madinet Masr's leadership in the Egyptian real estate market and inspire us to continue our growth strategy locally and regionally, capitalizing on our long and successful track record of over 64 years in the real estate sector.”

The nomination and award selection process involved a high-level judging panel of experts across various sectors and fields, including real estate. The criteria for selection took into consideration several factors, primarily innovation in the relevant sector, workforce and leadership skills, market value, strategic plans, potential global growth opportunities, and achievements, in addition to their effective implementation of sustainability and governance strategies.

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About Madinet Masr

Established in 1959, Madinet Masr has grown into a premier real estate developer and has become one of the country’s most recognizable real estate brands. Madinet Masr was listed on the Egyptian Exchange in 1996, capitalizing on a long and successful track record of delivering world-class housing and infrastructure projects to broaden its exposure to various target segments of the Egyptian real estate market. Anchored in the Greater Cairo Area and with a growing presence in other regions of Egypt, the Company holds a land bank of over nine million square meters (sqm). Madinet Masr had 21 active projects across two main developments at the close of Q3 2023: Taj City, a 3.6 million sqm mixed use development positioned as a premier cultural destination, and Sarai a 5.5 million sqm mixed use development strategically located near Egypt’s New Administrative Capital between Cairo and Suez. Madinet Masr has launched Zahw, its first expansion project outside of Cairo Governorate. Zahw is a 104-acre mixed use development strategically positioned in west of Assiut Governorate beside Assiut’s airport and 15-minute away from its center. Zahw compliments the contemporary real estate products in Upper Egypt.