Arab Finance: Madinat Misr for Housing and Development has signed a memorandum of understanding (MoU) with ASEC Automation, a subsidiary of Qalaa Holdings, to develop the second phase of the infrastructure and road network for the Sarai project in New Cairo, as per a disclosure.
The project will span 4.2 million square meters, with investments totaling over EGP 580 million.
The phase is expected to be completed by 2026, furthering Madinat Misr’s plan to expand its land portfolio, which exceeds 12 million square meters.