Majid Al Futtaim is making its first move into Egypt’s residential real estate market through a partnership with MIDAR for Investment and Urban Development to develop a mixed-use project in New Cairo with an initial development value of USD 3.1 billion.

The project will be developed within Mada City, one of East Cairo’s emerging urban destinations. It marks a significant expansion of Majid Al Futtaim’s presence in Egypt beyond its established retail, leisure, and commercial real estate portfolio.

Why You Should Care

The agreement represents one of the largest recent mixed-use development partnerships announced in Egypt. It signals continued regional investor interest in the country’s urban development sector. 

For Majid Al Futtaim, it opens a new business segment in a market where the company has operated for nearly three decades. For Egypt’s real estate developer giant, MIDAR, the deal adds another major developer to Mada City as it seeks to attract large-scale investment into eastern Cairo.

The project also reflects growing demand for integrated communities that combine housing, commercial activity, hospitality, and entertainment within a single destination.

The Details

The development will span approximately 553 feddans, or 2.32 million square meters. Under the agreement, the first phase will cover 200 feddans and is expected to be developed over the first four years of implementation. A second phase will extend across 300 feddans.

An additional 60 feddans have been earmarked for a potential shopping and entertainment destination. According to the companies, that component would be developed progressively based on occupancy levels and development progress across the project. If completed, it would increase the project’s total development value to more than USD 4 billion.

The master plan includes around 6,000 residential units alongside office, commercial, hospitality, entertainment, and service components. The project is designed as an integrated urban community that combines living, working, and leisure offerings within a single development.

“Through this project, we aim to create meaningful economic value and reaffirm our confidence in the strength and resilience of the Egyptian market and in its ability to support future destinations that meet the highest international standards,”

Ahmed Galal Ismail, Chief Executive Officer of Majid Al Futtaim Holding

The Ripple 

The partnership adds momentum to Egypt’s push to attract regional capital into large-scale urban developments, particularly in East Cairo, where master-planned cities are increasingly competing for investment, residents, and commercial activity.

The project also highlights how major regional developers are expanding beyond standalone residential compounds or retail destinations toward integrated mixed-use communities. These developments create multiple revenue streams through housing, retail, hospitality, office space, and entertainment. It also supports the long-term growth of surrounding urban areas.

For Mada City, securing a partner with Majid Al Futtaim’s track record strengthens its positioning as a destination for regional investment. It also adds another anchor project to its development pipeline.

What to Watch

The first indicator to watch is the pace of implementation on the initial 200-feddan phase. The agreement places immediate emphasis on moving the project into execution, making construction milestones an important measure of progress.

Another key development will be whether the planned retail and entertainment component moves forward. If demand and occupancy targets are met, the additional 60 feddans allocated for that phase would lift the project’s value beyond USD 4 billion. It would also further deepen Majid Al Futtaim’s footprint in Egypt.

More broadly, the partnership adds another signal that regional developers continue to view Egypt’s large-scale urban expansion projects as long-term investment opportunities, particularly in growth corridors such as East Cairo.