Egypt’s first integrated residential project takes shape in Egypt’s largest entertainment city as Egyptian-based MIDAR and Emaar Misr sign an agreement for its development. The construction companies inked a $277 million to develop the residential project in East Cairo. The agreement entails the development of a 500-acre residential complex by the EGX-listed Emaar Misr. Dubbed the Mada masterplan, the residential project is expected to attract total investments of $2 billion in the coming years. Covering an area of 6,023 acres, Mada is positioned as Egypt’s largest entertainment city.
Moreover, it is MIDAR’s second master-planned development in East Cairo, following the 5,408-acre Mostakbal City. The new development will include residential areas alongside entertainment, educational and medical services. It will also include commercial services, creating a self-sustained community. Emaar Mist’s Mohammed Alabbar emphasized the strategic importance of the partnership with MIDAR. He noted that the partnership on the construction project reflects strong confidence in Egypt’s real estate sector.
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All to Know About Egypt’s Largest Entertainment City, Mada
Egypt’s largest entertainment city, Mada is one that spans approximately 6,032 acres in East Cairo. Developed by MIDAR, Mada is strategically located in New Cairo with a 3-kilometer frontage on Suez Road. The city is an integrated urban complex with residential, commercial, and entertainment facilities. Once implemented, the project aims to offer a diverse range of attractions and experiences, with collaborations from local and international stakeholders. The city aims to instill a sense of vibrancy and wellness. With a focus on sustainability and contemporariness, the city incorporates state-of-the-art technology. Moreover, it integrates environmentally friendly practices to enhance the quality of life of the inhabitants and tourists. Investment opportunities in Mada are wide-ranging, from entertainment, education, healthcare, to retail. Negotiations are underway with a number of international players eager to invest in the development of this city, ensuring a dynamic and prosperous future for this legendary development.
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