Madinet Masr has signed a memorandum of understanding (MoU) with Forward Contractors to execute construction works worth EGP 1.45bn at Sarai, the company’s mixed-use development in East Cairo. The partnership forms part of Madinet Masr’s growth strategy to expand its residential offerings, develop its land portfolio and accelerate project delivery while adhering to the latest sustainable urban development standards. Under the agreement, Forward Contractors will carry out the construction of 95 residential villas in the Rai project within Sarai, with completion scheduled by the end of 2027. President and CEO of Madinet Masr Abdallah Sallam said the partnership represents an important step in accelerating construction across the company’s projects by collaborating with experienced contractors. Chairperson and CEO of Forward Contractors Mohamed El-Gendy said the company’s experience in delivering high-end residential developments would help ensure quality execution and timely delivery.

Source: Daily News Egypt December 24, 2025 19:42 UTC