Madinet Masr, a prominent real estate developer in Egypt, has revealed plans to establish a fully-owned subsidiary named “Cities of the World” in Dubai, United Arab Emirates. This new entity will act as the regional branch, overseeing all projects by Madinet Masr outside of Egypt.
This significant move is part of a broader strategy aimed at enhancing the company’s footprint in the region and exploring new real estate opportunities. Through “Cities of the World,” Madinet Masr intends to apply its successful development strategies and help create sustainable, modern communities throughout the Middle East and beyond.
Abdallah Sallam, President and CEO of Madinet Masr, stated: “The introduction of ‘Cities of the World’ represents a pivotal moment in our strategy for regional expansion. It demonstrates our dedication to extending Madinet Masr’s legacy beyond Egypt and establishing ourselves as a key player in the global real estate market. We are confident that this initiative will open up high-potential markets and generate new opportunities that align with our long-term vision.”
As part of this initiative, Madinet Masr announced plans to appoint Mohamed Lashien, the company’s Senior Vice President of Product Development, as the Managing Director of “Cities of the World” once it is officially established. This appointment reflects Lashien’s extensive expertise and successful history in overseeing numerous flagship developments for Madinet Masr.
This initiative highlights Madinet Masr’s aspirations to become a regional leader while adhering to its foundational values and legacy. With a history spanning over 60 years in the Egyptian real estate sector, the company is committed to continuing its tradition of quality, innovation, and community-oriented development.