Misr Al Gadida inks addendum with Middle East for Real Estate to build usufruct road
Updated 9/17/2025 11:38:00 AM
Arab Finance: Misr Al Gadida has signed an addendum to the partnership contract with Middle East for Real Estate Development and Investment, as per a disclosure.
Under this agreement, the company will construct a usufruct road connecting the northern and southern areas of New Heliopolis City.
The road, to be executed by Middle East for Real Estate Development, will serve as a vital artery linking the city’s projects and will be incorporated into the public road network of New Heliopolis City. It is expected to benefit residents, unit owners, and visitors alike.
The agreement also sets a mechanism for road construction and maintenance based on the principle of proportionality, aimed at enhancing infrastructure efficiency and adding urban and service value to the overall project.
This expansion is projected to increase guaranteed returns by approximately EGP 2.5 billion, with a present value of EGP 874 million. These returns will be added to the total value of the existing strategic partnerships between the two companies.
It is worth noting that on January 21st, 2024, Heliopolis Housing and Development announced a partnership agreement with Middle East for Real Estate Development and Investment covering a southern land plot of 865 feddans with a guaranteed minimum participation value of EGP 23.001 billion and expected revenues of EGP 39.695 billion.
The deal also included a northern land plot of 894 feddans with a guaranteed minimum participation value of EGP 23.806 billion and a minimum guaranteed return of EGP 41.084 billion over 14 years.
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