Madinet Masr Signs MoU with Waheej for Real Estate to Expand into Saudi Market.
Madinet Masr Signs MoU with Waheej for Real Estate to Expand into Saudi Market!
Cairo, June 15, 2025 – Madinet Masr (EGX: MASR.CA), one of Egypt’s leading real estate developers, has signed a Memorandum of Understanding (MOU) with Waheej for Real Estate, a licensed Saudi developer, to explore joint projects in Saudi Arabia as part of its regional expansion strategy.
The agreement was signed in Riyadh by Eng. Abdallah Sallam, President & CEO of Madinet Masr, and Eng. Rashid Saud Al-Jadoua, CEO of Waheej. It aims to develop residential, commercial, and administrative projects by exchanging technical and financial expertise—contributing to the goals of Saudi Vision 2030, including enhanced homeownership and quality of life.
“This partnership marks a key milestone in our regional expansion,” said Eng. Sallam. “Saudi Arabia presents strong growth potential, and we are proud to collaborate with Waheej to turn this agreement into successful projects.”
Eng. Al-Jadoua added, “Madinet Masr brings deep development expertise. Together, we aim to deliver impactful real estate solutions that align with the Kingdom’s vision.”
The MoU outlines potential future joint ventures, with independent agreements to be signed for each project.
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