Madinet Masr Housing and Development signed a memorandum of understanding (MoU) with Smart Construction and Development (SCAD) for the Sarai multi-purpose project in New Cairo with a contractual value of EGP 650 million.
This collaboration aligns with Madinet Masr’s strategic vision to create sustainable urban communities that meet its customers’ aspirations, according to a press release.
Under this partnership, the EGX-listed firm plans to accelerate the pace of its projects while maintaining the highest quality standards and adhering to the specified timetable.
Meanwhile, SCAD will carry out the construction of residential buildings, landscapes, fences, and surface drainage for several buildings in Project Croons within Sarai.
The development scheme, which spans 26,000 sqm, is expected to be completed within one year of the contract date.