Egypt-based real estate developer Madinet Masr announced it has begun the process of establishing a wholly owned subsidiary in Dubai, UAE for managing its real estate activities outside Egypt.
“Initiating the process to establish ‘Cities of the World’ marks a significant milestone in executing our strategic goal of regional expansion,” said Abdallah Sallam, President and CEO of Madinet Masr. He added that the step positions the company at the forefront of regional real estate development beyond its home market.
Madinet Masr also announced its intention to appoint Mohamed Lashien, Senior Vice President of Product Development, as Managing Director of “Cities of the World” once the subsidiary is officially established.
A growing number of Egyptian developers, listed and private alike, are expanding their footprint with new project launches across the Gulf and broader Middle East.
Last week, EGX-listed TMG Holding signed an agreement with the Iraqi government for a $17 billion mixed-use project in Baghdad, following major project signings in Saudi Arabia and Oman.
Egyptian private developer Tatweer Misr told Zawya Projects last month that it is currently studying new investment opportunities in Saudi Arabia and Oman, with a project annoucement likely this year.
In April 2025, Naguib Sawiris-owned ORA Developers launched Bayn, a 4.8 million square metre coastal community in the UAE in Abu Dhabi. Last year, the company was awarded a contract to develop a new mega residential city ‘Ali Al-Wardi’ in southeast of Baghdad.
In January 2025, Al Ahly Sabbour Developments announced the launch of Wadi Zaha, the first neighbourhood in its project in Sultan Haitham City, Oman, with a total investment of 90 million Omani rials.
(Writing by Marwa Abo Almajd; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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