Madinet Misr Company announced the signing of a Memorandum of Understanding with Smart Construction and Development Company (SCAD), one of the companies specialized in integrated contracting works, to develop construction works in the Sarai mixed-use project in New Cairo with a contractual value of 650 million Egyptian pounds. This agreement comes within the framework of Madinet Misr's ambitious vision that aims to build sustainable urban communities that meet the aspirations of its customers, as the company seeks to accelerate the pace of work on its projects according to the highest quality standards and adhere to the specified timetable.
The signing of the agreement was witnessed by Eng. Abdullah Salam, CEO and Managing Director of Madinet Misr Company, and Mahmoud Mohamed Abdel Gawad El Awady, Chairman of the Board of Directors of SCAD Company, in the presence of a group of senior leaders from both companies. Under this strategic partnership, SCAD will implement construction works for residential buildings, landscaping, fences, and surface drainage of gardens for a number of buildings in the Croons area within the Sarai project on a land area of 26 thousand square meters, and the implementation of works will continue for a full year from the date of the contract.
Commenting on this partnership, Eng. Abdullah Salam, CEO and Managing Director of Madinet Misr, said: “We are committed to providing the best services to our clients, and we are pleased to cooperate with reliable and experienced partners such as SCAD, which has a proven track record of achievements and shares our ambitious vision for developing our flagship project Sarai.” Salam added: “At Madinet Misr, we believe in the importance of providing projects that add value to the Egyptian real estate market and meet the aspirations of our clients by creating integrated modern communities that enhance the national economy and combine sophistication, luxury and a sustainable environment.” For his part, Dr. Mahmoud El Awady, Chairman of SCAD, expressed his great pleasure with this strategic partnership with a leading developer such as Madinet Misr, stressing the importance of this cooperation in driving urban development in Egypt based on the expertise of both companies. Al-Awadhi praised the Sarai project and its distinctive designs, which represent a role model in the real estate sector, saying: “We are excited to participate in this project, and we are committed to providing the latest engineering technologies and innovative sustainability standards to ensure that the project is implemented according to the highest standards of quality and efficiency, providing customers with a unique living experience that meets all needs and aspirations.”
The design of Sarai is based on an unprecedented concept by personalizing the living experience of residents according to their needs and requirements, as the project combines a vibrant modern lifestyle with the tranquility that characterizes the suburbs, in addition to many options in terms of spaces and units that include residential apartments, S-Villas, townhouses, and others, amidst vast green spaces, extending over an area of 5.5 million square meters. Sarai is strategically located along the Cairo-Suez Road and the Amal Axis. It is worth noting that S-Villa is a new and innovative concept introduced to the Egyptian real estate market from Madinat Misr. The project enjoys an excellent strategic location just 10 minutes away from the American University in Cairo, 15 minutes away from the Ring Road, and just 5 minutes away from the New Administrative Capital, ensuring easy access.
