MIDAR for Investment and Urban Development, the master developer of "Mostakbal City" and "MADA" in New Cairo, has signed a partnership agreement with Sixth of October Development and Investment Company — SODIC to develop a fully integrated residential project within "MADA," with total investments amounting to EGP 110 billion.
The partnership was announced during the press conference held in "Mostakbal City," in the presence of Major General Eng. Amir Sayed Ahmed, Chairman of MIDAR for Investment and Urban Development; Eng. Ayman ElKousey, CEO & Managing Director of the company; Eng. Fahad Abdullah Al-Mahmood, Executive Vice Chairman of SODIC; Eng. Ayman Amer, General Manager of SODIC; along with board members from both companies; and a wide participation of representatives from various media outlets.
Under this new agreement, SODIC will develop a 500-feddan land plot in "MADA" under a revenue-sharing model.
This comes as part of MIDAR’s strategy to develop fully integrated cities that meet the needs of modern life. The new partnership also represents strategic significance, as SODIC is 85.5% owned by Aldar Properties, one of Abu Dhabi’s largest regional developers, along with ADQ, further strengthening the distinguished economic relations between Egypt and the UAE.
Eng. Ayman Amer, General Manager of SODIC, commented on the partnership:
"We are pleased to partner with MIDAR on a new 500-acre development in MADA, one of Egypt’s leading fifth-generation cities. This partnership supports SODIC’s expansion strategy in East Cairo, where we have operated since 2008 with over 5,000 units delivered across three major projects, alongside our ongoing SODIC East development in partnership with Heliopolis Housing & Development.”
He added,
“This collaboration marks a new milestone for SODIC, creating an integrated urban community that reflects our commitment to delivering high-quality, sustainable neighborhoods, where wellness serves as the foundation, not just an amenity. We are proud to contribute to national projects and the country’s urban development strategy."
"MADA" is MIDAR’s newest city and one of Egypt’s most prominent fifth-generation cities. It spans 5,800 acres (approximately 25 million square meters) and is strategically located in the heart of New Cairo, near the Administrative Capital and Cairo International Airport. It is surrounded by key transportation routes, including the Al Amal Axis, the Cairo-Suez Road, the Regional Road, and the Middle Ring Road.
date
12 / 10 / 2025
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