Madinet Misr, one of the leading real estate development companies in Egypt, announced the signing of a memorandum of cooperation with ASEC Automation to build the second phase of the infrastructure and road network for the Sarai project in New Cairo, on an area of 4.2 million square meters, with investments amounting to more than 580 million pounds. This step comes within the framework of the company's strategy to develop its land portfolio and its keenness to provide high-quality infrastructure for the Sarai project, and meet the aspirations of its customers, with its full commitment to achieving all sustainability standards, in line with the Egyptian state's strategy to achieve sustainable urban development.

The signing of the memorandum of cooperation was witnessed by Eng. Abdullah Salam, Managing Director and CEO of Madinet Misr, and Eng. Mohamed Abdel Razek, Managing Director and CEO of ASEC Automation . This agreement reflects Madinet Misr's commitment to its growth plan and the expansion of its land portfolio, which exceeds 12 million square meters, and its keenness to provide the best advanced services to its customers, through cooperation with major engineering companies to implement the Sarai multi-use project, and provide advanced infrastructure as the second phase of the Sarai project serves 14 residential neighborhoods, and the project is scheduled to be delivered during 2026.

Commenting on this step, Eng. Abdullah Salam, CEO and Managing Director of Madinet Misr, stated: "We at Madinet Misr believe in the importance of developing integrated and sustainable urban communities that achieve added value to the real estate market and enhance the national economy in line with the state's goals for comprehensive urban development and Egypt's Vision 2030. Therefore, we provide the best services to our customers, by adopting the latest technological solutions and continuous innovation, to keep pace with the development in the Egyptian real estate market, which supports our ability to provide high-quality services that exceed “We are proud to partner with Madinet Misr, one of Egypt’s largest real estate developers, to develop the mega project Sarai.

We are committed to providing our best expertise and skills in automation and electrical engineering to infrastructure projects, ensuring the project is executed with the highest quality and in the fastest possible time,” said Eng. Mohamed Abdel Razek, Managing Director and CEO of ASEC Automation, a Citadel Capital company. “The volume of investments implemented reflects the strength and quality of Madinet Misr’s projects, which are in line with the Egyptian state’s goals of providing job opportunities for young people and driving the economy forward.”