Egypt has secured a major real estate investment agreement with Dubai-based Majid Al Futtaim, paving the way for the development of a large-scale mixed-use destination in Mada City, New Cairo, as reported by Business Insider Africa. The project carries an initial investment value of more than $3.1 billion, with the total development expected to exceed $4 billion upon completion, underscoring growing investor confidence in Egypt’s real estate and urban development sector.
Under the agreement, Majid Al Futtaim will develop a 2.3-square-kilometre section of Mada City, transforming the site into a fully integrated urban community featuring approximately 6,000 residential units, premium office space, retail outlets, hospitality venues, and hotels. The development is designed to cater to rising demand for modern mixed-use communities in Greater Cairo, combining residential, commercial, leisure, and business facilities within a single destination.
The project forms part of Egypt’s broader strategy to attract foreign direct investment and accelerate the development of new urban centres around Cairo. New Cairo has emerged as one of the country’s fastest-growing real estate markets, benefiting from major infrastructure upgrades, population growth, and increasing demand for high-quality residential and commercial properties. Industry analysts view the investment as one of the largest private-sector real estate commitments in Egypt in recent years.
For Egypt’s economy, the development is expected to generate thousands of jobs during both the construction and operational phases while stimulating activity across construction, retail, hospitality, and professional services. Analysts say the project further strengthens Egypt’s position as a leading destination for regional real estate investment and highlights the growing role of large-scale mixed-use developments in driving urban growth and economic diversification across the Middle East and North Africa.
