Arab Finance: Madinet Masr began establishing a wholly owned subsidiary in Dubai under the name "Cities of the World”, according to a press release.

Upon completion, the new unit will manage and oversee all Madinet Masr’s projects outside Egypt.

This move aligns with Madinet Masr’s expansion strategy to reinforce its regional and international presence and unlock new opportunities across a range of real estate development sectors.

Abdallah Sallam, President and CEO of Madinet Masr, stated: “We are confident this direction will enable us to enter promising markets while exporting our successful development model.”

Meanwhile, the development group plans to appoint Mohamed Lashien, who is the company’s Senior Vice President of Product Development, as Managing Director of "Cities of the World".

In the first quarter (Q1) of 2025, Madinet Masr reported contracted sales of EGP 11.5 billion.

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