- A bold step reflecting confidence in Egypt’s thriving real estate market
- The project spans 500 acres and boasts investments of EGP 100 billion with a substantial upfront payment in the millions of dollars.
- Mohamed Alabbar: “The project strengthens our optimistic vision for the significant investment opportunities in the Egyptian market and reflects our commitment to driving urban development rooted in innovation and sustainability.”
Cairo, February 16, 2025: Emaar Misr for Development has announced a strategic partnership with for Investment and Urban Development. This partnership, which brings together Emaar Misr Development’s expertise in creating world-class urban developments and MIDAR’s investment and urban development capabilities, will bring to life the new Mivida project in New Cairo.
Strategically located on the Cairo-Suez Road, this fully integrated residential community will cover an expansive 500 acres (2.1 million square meters), with total investments of EGP 100 billion and an upfront payment worth millions of dollars. This collaboration reflects the growing confidence both companies have in Egypt’s dynamic real estate sector.
The agreement was signed during a high-profile event attended by Mohamed Alabbar, Founder of Emaar Properties; Eng. Ayman El-Qousi, CEO and Managing Director of MIDAR; Eng. Mostafa El-Kady, CEO of Emaar Misr Development, and a host of senior executives from both companies. The ceremony also welcomed prominent figures from the real estate industry and received significant attention from local and regional media outlets.
The new Mivida project is part of Emaar Misr Development ‘s ambitious growth strategy in Egypt, aimed at expanding its portfolio with developments in prime locations. This initiative reflects the company’s unwavering commitment to contributing to Egypt’s urban transformation by delivering world-class residential and commercial communities that cater to modern lifestyles while adhering to global construction standards.
The development will feature over 2,900 residential units, including villas and apartments, with unit sizes ranging from 200 to 600 square meters. The homes will offer configurations of 3 to 7 bedrooms, catering to diverse family needs. The community will also include a state-of-the-art sports club and an international school, ensuring a well-rounded lifestyle for residents.
Mohamed Alabbar expressed his enthusiasm for this landmark partnership, saying: “We are thrilled to announce this transformative project, which embodies our optimistic vision for Egypt’s real estate market and highlights our dedication to creating innovative, sustainable communities that redefine modern living.” He added: “This collaboration underscores our confidence in Egypt as one of the region’s most promising markets for investment. We are committed to delivering developments that not only meet but exceed customer expectations, offering unparalleled living experiences.”
Mohamed Alabbar also emphasized Emaar’s long-standing commitment to Egypt’s real estate sector: “Our success here reflects our deep belief in the potential of this market. We take pride in being part of Egypt’s ongoing urban renaissance by delivering projects that combine cutting-edge design with exceptional quality.” He highlighted Emaar’s unwavering focus on sustainability, stating: “Environmental responsibility is at the heart of everything we do. From integrating smart technologies to creating vast green spaces, we are dedicated to building communities that harmonize with their surroundings while providing residents with all the amenities they need for a modern lifestyle. This commitment to sustainability ensures that our developments not only meet but exceed customer expectations, offering unparalleled living experiences.”
Emaar Misr Development has firmly established itself as a leader in Egypt’s real estate market through iconic developments such as Uptown Cairo, Marassi, Mivida, and Soul on the North Coast. These successful projects have redefined integrated living by blending innovative architectural design with world-class quality standards, cementing Emaar’s reputation as a pioneer in creating vibrant urban communities tailored for contemporary living. This track record of success should instill confidence in our investors and potential homebuyers.