Madaar Prepares for a 200-Feddan Project in Sheikh Zayed and Considers Expansion in East Cairo
Madaar Development is preparing to launch its fifth project in Egypt on approximately 200 feddans in New Sheikh Zayed, and is studying expanding in East Cairo after recording 15 billion EGP in sales.
Madaar Development, a subsidiary of Sunrise Resorts & Cruises, is studying new expansion opportunities in East Cairo in the coming period and is preparing to launch a new project in New Sheikh Zayed over an area of 200 feddans. Eng. Ahmed Ehab, CEO of the company, told Hapi Newspaper that the company is considering expansion in East Cairo in light of urban growth and rapid development in infrastructure and road networks.
Ehab added that the company is preparing to launch its fifth project in the Egyptian market on an area of approximately 200 feddans in New Sheikh Zayed. He revealed that during the first half of 2026, the company achieved contractual sales worth 15 billion EGP, driven by demand for The Hillage project in Sheikh Zayed, which recorded sales worth 12 billion EGP.
The company aims to achieve total sales worth 25 billion EGP during 2026, along with injecting about 6 billion EGP into construction investments. These moves come in parallel with the ongoing development of projects in Ain Sokhna, Ras El Hekma, and West Cairo, as part of a vision aimed at building a geographically diversified portfolio capable of benefiting from new growth areas created by urban development and infrastructure plans in Egypt.
Ehab mentioned that since its establishment in 2015, Madaar has injected total investments amounting to nearly 18 billion EGP into its various projects, achieving cumulative sales exceeding 40 billion EGP. This trajectory reflects a shift in the company's portfolio from a primary project in Sheikh Zayed to projects distributed across several regions, with preparations to add a fifth project that enhances its presence in West Cairo.
What do these terms mean?
Contractual Sales: The value of contracts signed by buyers with the developer, recorded prior to unit delivery and revenue recognition.
Feddan: A land area measurement unit in Egypt, equal to approximately 4,200 square meters.
Construction Investments: Funds spent by the company on construction and fitting-out works for its projects during a specific period.
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