Arab Finance: Madinet Masr has entered Egypt’s North Coast market for the first time through a 101-feddan project developed in collaboration with Reedy Development under its newly introduced AMAR platform, as per an emailed press release.
Located at kilometer 183, the project will be developed and managed by Reedy Development as master developer. Doors Real Estate, a subsidiary of Madinet Masr, will oversee the project’s commercial positioning, market rollout, sales, and marketing as its exclusive sales and marketing arm.
AMAR will coordinate the partnership and provide the standards and governance framework governing the project. The development is the first to be structured through the platform, which Madinet Masr created to pursue real estate opportunities through flexible partnerships and capital-efficient operating models.
Under the AMAR model, Madinet Masr can bring together land, capital, internal capabilities, and external partners based on the requirements of each opportunity. Its potential roles include commercialization, investment, operations, services, brand licensing, and partnership structuring.
The companies will disclose the project’s masterplan, development components, and launch plans at a later date.
"We created AMAR as an Urban Realization Platform in response to an increasingly dynamic market, where the right model is not always for one company to perform every role. AMAR allows us to structure each opportunity around the right partners, capabilities, and operating model, while maintaining a clear framework of standards and governance," Abdallah Sallam, President and CEO of Madinet Masr, said.
"In this project, Reedy Development brings its development capabilities, Doors Real Estate leads sales and marketing, and AMAR brings the collaboration together under one model. We believe this gives Madinet Masr a more flexible and scalable way to unlock opportunities, extend our reach, and create value across the real estate market," Sallam added.
Karim El Reedy, Chairman and CEO of Reedy Development, commented: "The combination of our development capabilities and expertise, the project’s strategic location on the North Coast, and Madinet Masr’s strength and extensive experience provides a solid foundation for delivering a truly distinctive destination. We believe this collaboration brings together complementary capabilities under a model designed to create a compelling proposition for the market and long-term value for customers and stakeholders."
