UAE-based Majid Al Futtaim has signed a strategic partnership agreement with MIDAR for Investment and Urban Development to develop a major mixed-use destination within MADA City in New Cairo, marking one of the largest foreign-backed real estate investments announced in Egypt this year.
The project will attract investments exceeding $3.1 billion, with its total development value expected to surpass $4 billion through future expansion phases.
Spanning approximately 553 feddans, the development will be delivered in multiple phases and will include around 6,000 residential units, alongside a business district, retail and entertainment facilities, hospitality assets, and integrated lifestyle amenities designed to create a fully self-sustained urban community.
The agreement represents Majid Al Futtaim’s first residential development venture in Egypt and reflects the company’s growing confidence in the country’s long-term economic and real estate prospects. The project is expected to contribute to East Cairo’s urban expansion while supporting Egypt’s broader strategy of attracting foreign direct investment and accelerating the development of integrated smart cities.
Located within MADA City, one of MIDAR’s flagship developments in East Cairo, the project will combine residential, commercial, hospitality, and leisure components, creating a destination aimed at meeting growing demand for high-quality mixed-use communities.
The partnership further strengthens Majid Al Futtaim’s presence in Egypt, where the UAE-based group has invested heavily across retail, entertainment, and real estate sectors over the past decades. The new development is expected to generate significant economic activity, create employment opportunities, and enhance the attractiveness of East Cairo as a regional investment hub.
The signing ceremony took place under the patronage of Egyptian Prime Minister Dr. Mostafa Madbouly and was attended by senior government officials and executives from both Majid Al Futtaim and MIDAR.
