Cairo - Mubasher: Madinet Masr for Housing and Development has signed a memorandum of understanding (MoU) with Aboelwafa for Contracting and Real Estate Investment to execute construction works for the ClubSide phase within the Taj City project, at a total value of EGP 3.30 billion.
Aboelwafa will carry out the construction of 40 residential buildings along with related infrastructure works, according to a press release.
The partnership reflects Madinet Masr’s strategy to accelerate development, maintain high-quality and sustainable engineering standards, and deliver value to investors and clients. Meanwhile, the work is expected to be completed by the end of 2027.
Abdallah Sallam, President and CEO of Madinet Masr, stated: “This MoU represents an important step in accelerating project delivery and raising execution standards, while meeting our clients’ expectations and upholding our continuous dedication to innovation and best practices.”
For his part, Saad Mahmoud Muhammad Aboelwafa, Chairman of the Board at Aboelwafa, added: “We are committed to executing works according to clear schedules and precise standards, supporting project goals, providing sustainable value to clients, and fostering a long-term partnership with Madinet Masr built on professionalism and mutual trust."
Spanning 3.50 million square meters (sqm) in New Cairo, the Taj City development integrates modern design, advanced construction, premium amenities, and contemporary retail within landscaped spaces that reflect Egypt’s heritage, offering residents a unique living experience.
Earlier this month, Madinet Masr inked an EGP 400 million MoU with Elsewedy Electric Infrastructure to execute advanced infrastructure works at the Elan project within the Sarai development.
