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Madinet Masr for Housing and Development has signed a memorandum of understanding with Aboelwafa for Contracting and Real Estate Investment to execute construction works worth about EGP 3.3 billion at its Taj City project. The agreement covers the construction of around 40 residential buildings along with supporting infrastructure. The works are planned to be completed by the end of 2027. The move reflects Madinet Masr's ongoing focus on advancing phased development at Taj City through strategic contractor partnerships.
Madinet Masr for Housing and Development has entered into a memorandum of understanding with Aboelwafa for Contracting and Real Estate Investment to carry out large-scale construction works at its Taj City project. The agreement outlines an investment of around EGP 3.3 billion for executing residential and infrastructure works within the mixed-use development. Advertisement
Under the MoU, Aboelwafa will be responsible for constructing around 40 residential buildings along with related infrastructure at Taj City. The scope includes core construction activities aimed at supporting Madinet Masr's ongoing development plans for the project.
The company indicated that the construction works are expected to be completed by the end of 2027, aligning with its broader delivery timelines. Taj City remains one of Madinet Masr's key projects, located in East Cairo, and has seen phased development over recent years as part of the developer's expansion strategy.
Madinet Masr has been steadily strengthening partnerships with contractors to ensure timely execution and quality delivery across its projects. In the past, the developer has followed a similar model by awarding construction packages in phases to manage costs and maintain progress across large developments.
Source Reuters
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