Madinet Masr Launches 'ETAJE' Project in Taj City with a Sales Target of EGP 6.6 Billion

Madinet Masr for Housing and Development announced the launch of the "ETAJE" mixed-use residential project on the last residential land plot within the Taj City development in New Cairo. The project covers an area of approximately 26.4 feddans, comprising 20 buildings and around 600 residential units.

The company explained that the project targets sales worth approximately EGP 6.6 billion, with construction work spanning over four years. By dividing the announced sales target by the number of units, the estimated average exceeds EGP 10 million per unit, indicating that the project targets middle-to-upper market segments.

The company did not disclose a timeline for the start of sales, delivery dates for the first units, or payment plans, as the announcement was limited to the sales target, implementation duration, land area, and unit count.

The announced sales target represents a benchmark for the project's expected revenues, but remains a non-binding goal until reservations turn into actual contracts. The number of units and execution timeframe are key factors determining the project's delivery pace and revenue flow to the company over the next four years, serving as critical metrics investors monitor when evaluating real estate developers.

What do these terms mean?

Feddan: a unit of land area used in Egypt, equivalent to approximately 4,200 square metres, or around 0.42 of a hectare.

Mixed-use project: a development that combines residential units alongside commercial or administrative activities within the same location.

Sales target: the value a company expects to achieve from selling project units; it is a planning goal and not realised revenue until reservations become signed contracts.