Arab Finance: Madinet Masr has signed an EGP 650 million memorandum of understanding (MoU) with Smart Construction and Development (SCAD) to develop the Croons section of the Sarai project in New Cairo, as per a disclosure.

The agreement focuses on constructing residential buildings, landscaping, and drainage systems over a 26,000-square-meter (sqm) land.

This partnership supports Madinet Masr's vision of creating sustainable urban communities, with the project expected to be completed within one year.

Sarai offers a mix of modern living spaces and is strategically located along the Cairo-Suez Road.

"At Madinet Masr, we believe in adding value to Egypt's real estate market through our projects and meet our clients' aspirations by creating integrated modern communities. These communities not only boost the national economy but also blend sophistication, luxury, and sustainability," President and CEO of Madinet Masr Abdallah Sallam said.

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