Arab Finance: Madinet Masr is planning to invest around EGP 3 billion in 2023, the firm’s CEO and Managing Director Abdallah Sallam told Hapi Journal on March 30^th.

The investments will be mainly directed to construction works in order to meet the delivery dates, Sallam noted.

Sallam also said that the real estate developer is eying cooperation with key developers and companies specialized in partial ownership of properties in the coming period.

He added that the company is planning to issue new securitization of units this year, expecting the process to take place by the end of the year.

It is worth noting that EFG Hermes Holding (HRHO) concluded an EGP 805.5 million securitized bond issuance for Madinet Masr last month.

The issuance was part of the company’s EGP 3 billion securitization program started in 2022 to monetize its receivables portfolio and unlock growth capital

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