Majid Al Futtaim Signs $3.1 Billion New Cairo Development Deal — Gulf Investment Confidence in Egypt at Record High

Deal at a Glance

UAE-based Majid Al Futtaim has signed a landmark strategic partnership agreement with Cairo-based MIDAR Investment and Urban Development Company to develop a large mixed-use urban project in New Cairo’s Mada City — the group’s first residential community development in Egypt.

• Value: Over $3.1 billion, expected to exceed $4 billion at full build-out
• Location: Mada City, New Cairo — 553 feddans (2.3 km²)
• Model: Revenue-sharing partnership between Majid Al Futtaim and MIDAR
• Witnessed by: Egyptian Prime Minister Mostafa Madbouly, Housing Minister Randa El Manshawy, Investment Minister Mohamed Saleh, UAE Ambassador Hamad Al Zaabi

Phased Development

Phase 1 covers 840,000 m² over four years and includes approximately 6,000 residential units, a business district, retail and hospitality components, and hotel units.

Phase 2 will add a further 1.26 km² with approximately 252,000 m² earmarked for a premium integrated shopping and entertainment destination, to be delivered progressively as surrounding residential areas reach occupancy thresholds.

MIDAR expects the deal to generate future revenues exceeding 40 billion Egyptian pounds.

Majid Al Futtaim’s Expanding Egyptian Footprint

Majid Al Futtaim CEO Ahmed Galal Ismail described the deal as “a proud new chapter” for the group in Egypt. The company has invested approximately $2.8 billion in Egypt over 27 years, creating more than 226,000 direct and indirect jobs.

Its existing Egyptian portfolio includes Mall of Egypt, City Centre Almaza, City Centre Alexandria, City Centre Maadi, and over 100 Carrefour supermarkets and Supeco discount stores. This deal marks the company’s strategic expansion from retail and leisure into integrated residential community development.

“By bringing our regional expertise in developing integrated, mixed-use communities to Mada City, we are creating an advanced urban model that places quality of life and sustainability at its core,” Ismail said.

Broader Context: Gulf Investment in Egypt

The deal is the latest instalment in a deepening wave of Gulf investment that has reshaped Egypt’s financing picture over the past three years:

• Ras El Hekma (Feb 2024): UAE sovereign wealth fund ADQ signed a $35 billion agreement — the largest foreign investment in Egypt’s history
• Gulf real estate investment (2026 est.): $30–41 billion by year-end, according to state estimates
• Total foreign inflows since 2022: Over $102 billion
• Saudi Arabia: ~$25 billion in Egyptian assets
• Qatar (QIA): $29.7 billion North Coast tourism development + $7.5 billion investment package

What This Means for Red Sea & Hurghada Investors

While the Majid Al Futtaim deal is in New Cairo, its implications extend directly to the Red Sea real estate market:

• Gulf capital confidence is at an all-time high. When a developer of Majid Al Futtaim’s calibre enters Egypt’s residential market for the first time, it signals deep institutional confidence in Egypt’s long-term economic trajectory — confidence that flows directly into coastal destinations like Hurghada, Sahl Hasheesh, and El Gouna.
• Infrastructure momentum benefits all regions. The same government driving New Cairo’s expansion is simultaneously investing in Hurghada International Airport (12+ million passengers in 2025), the Mamsha promenade, and new road networks connecting Red Sea resorts.
• Competition for premium residential. As Cairo gains new world-class communities, Red Sea destinations differentiate through lifestyle — beachfront living, year-round tourism, and strong rental yields that urban Cairo cannot match.
• Second-home demand from Cairo’s growing elite. New Cairo’s expanding high-net-worth population creates a natural feeder market for Red Sea second homes and investment properties — a trend MAMO Property has observed accelerating through 2026.

For investors already positioned in Hurghada’s prime districts — Sahl Hasheesh, Magawish, El Gouna, and the Intercontinental corridor — this deal reinforces the macro case for Egyptian real estate. Gulf capital is betting billions on Egypt’s future, and the Red Sea coast remains one of the most accessible entry points for international buyers.

Looking to capitalize on Egypt’s rising real estate market? Contact MAMO Property for expert guidance on Red Sea investment opportunities.

---

📚 Further Reading:

• our complete El Gouna buyer’s guide
• our detailed Sahl Hasheesh area guide
• our rental yield comparison and ROI calculator
• our complete guide to foreign property ownership in Egypt
• our complete buyer’s guide covering all fees and taxes
• our news coverage of Egypt’s 48-hour work permit
• Neo Ibiza property listing
• our analysis of Egyptian Pound trends and foreign reserves
• our Egypt tourism 2026 impact analysis
• our Egypt economy outlook for property investors

🔗 Additional Resource: World Bank FDI data for Egypt

Frequently Asked Questions

Q: What makes the newly announced Majid Al Futtaim Mada City development so significant?
A: Developed in strategic partnership with MIDAR New Cairo, the Majid Al Futtaim Mada City represents a massive expansion of Majid Al Futtaim’s investments in Egypt. This partnership is a testament to the rising momentum of Gulf investment in Egyptian real estate, signaling robust economic growth and high developer confidence in the region.

Q: What can we expect from the Mada City New Cairo project?
A: The Mada City New Cairo project will be a premier, fully integrated sustainable community. It is designed to offer world-class residential areas, state-of-the-art commercial spaces, and diverse retail and entertainment sectors that cater to modern urban lifestyles.

Frequently Asked Questions

Q: What is the economic significance of the new Majid Al Futtaim MIDAR deal?
A: The $3.1 billion Majid Al Futtaim MIDAR deal, signed in partnership with MIDAR for Urban Development, represents a major milestone for the real estate market. It underscores the record-high levels of Gulf investment in Egypt, demonstrating strong regional confidence in the country’s growing economy.

Q: What will the new Majid Al Futtaim New Cairo project offer?
A: The highly anticipated Majid Al Futtaim New Cairo project will deliver a premier, sustainable mixed-use destination in New Cairo, featuring world-class residential communities, commercial hubs, and entertainment facilities.

Frequently Asked Questions

Q: What does the new Majid Al Futtaim and MIDAR partnership mean for the Egyptian property market?
A: This landmark $3.1 billion collaboration marks a significant milestone for real estate investment in Egypt. The joint effort will drive the sustainable development of the master-planned MIDAR New Cairo project, highlighting strong Gulf investor confidence in the country’s expanding economic landscape.

Frequently Asked Questions

Q: What is the significance of the new $3.1 billion partnership in Egypt’s real estate sector?
A: The landmark agreement signed between Majid Al Futtaim New Cairo and Midar Real Estate Development to develop the master-planned Mada City New Cairo marks a major milestone for the local property market. This massive project highlights the rising momentum of Gulf investment in Egypt, demonstrating strong international confidence in the country’s long-term economic growth.

Frequently Asked Questions

Q: What is the significance of the new Majid Al Futtaim New Cairo project?
A: Developed in partnership with MIDAR for Real Estate Development, this landmark $3.1 billion development represents a major milestone that highlights the surging volume of Gulf investment in Egypt real estate and reinforces regional confidence in the market’s long-term growth.

Frequently Asked Questions

Q: What does the new $3.1 billion development deal mean for the Egyptian property market?
A: The landmark partnership between Majid Al Futtaim New Cairo and Midar Real Estate Development Company represents a massive boost for high-end New Cairo mixed-use developments. This mega-project serves as a key indicator of the surging confidence and rising volume of Gulf investment in Egypt, paving the way for further economic growth in the region.

Frequently Asked Questions

Q: How does the partnership with MIDAR Investment Egypt impact the local property market?
A: The collaboration to develop the Majid Al Futtaim New Cairo project represents a massive boost to the economy, underscoring the record-high confidence and the robust growth of Gulf investments in Egyptian real estate.

Frequently Asked Questions

Q: What does the newly announced Majid Al Futtaim New Cairo project mean for the local property market?
A: This massive $3.1 billion development highlights the surging confidence in Gulf real estate investment in Egypt. Strategically located within Mada City New Cairo, also referred to as Mada City MIDAR, the project is set to become a premier destination that will drive economic growth and set new standards for master-planned communities.

Frequently Asked Questions

Q: What is the significance of the massive new development deal and its impact on Majid Al Futtaim’s investments in Egypt?
A: The landmark $3.1 billion agreement significantly expands Majid Al Futtaim’s investments in Egypt, reinforcing the developer’s commitment to delivering world-class, integrated communities that drive local economic growth.

Q: How does the Majid Al Futtaim New Cairo project reflect current regional investor sentiment?
A: The launch of the Majid Al Futtaim New Cairo project demonstrates that Gulf investment in real estate in Egypt has reached record-high levels of confidence, signaling strong and continuous regional trust in the country’s premium property sector.

Frequently Asked Questions

Q: What does the new $3.1 billion development deal signify for the region’s property sector?
A: This landmark agreement highlights the unprecedented momentum of Gulf real estate investment in Egypt. At the forefront of this growth is the newly announced Majid Al Futtaim New Cairo project, developed in strategic partnership with MIDAR for Urban Development, which underscores the rising international confidence in the country’s urban development sector.

Frequently Asked Questions

Q: What is the significance of the Majid Al Futtaim New Cairo collaboration?
A: The partnership between Majid Al Futtaim New Cairo and Medar for Urban Development represents a massive $3.1 billion investment, signaling record-high Gulf investor confidence in the growth potential of Egypt’s real estate market.

Q: What will Majid Al Futtaim’s new project in Egypt offer?
A: Majid Al Futtaim’s new project in Egypt is set to deliver a premier, fully integrated sustainable community that seamlessly combines world-class residential neighborhoods with state-of-the-art retail and commercial developments.

Frequently Asked Questions

Q: What does the new $3.1 billion development deal signify for the Egyptian property market?
A: The landmark agreement for Majid Al Futtaim’s new project highlights the record-high confidence in Gulf investment in real estate in Egypt. Spearheaded by Majid Al Futtaim New Cairo, this massive development is set to drive economic growth, create thousands of jobs, and elevate the standard of mixed-use communities in the region.

Frequently Asked Questions

Q: How does the new $3.1 billion partnership impact Majid Al Futtaim investments in Egypt?
A: This landmark deal represents a major expansion of Majid Al Futtaim investments in Egypt, signaling robust Gulf confidence in the country’s real estate sector. In collaboration with master developer MIDAR Egypt, the investment will fund the development of the massive Mada New Cairo City, establishing it as a premier, state-of-the-art urban destination.

Frequently Asked Questions

Q: How does the new $3.1 billion agreement impact Egypt’s real estate market?
A: The landmark deal significantly boosts the Majid Al Futtaim New Cairo development, integrating premium residential and commercial spaces within Midar company’s new project. Furthermore, this massive joint venture highlights the growing momentum of Gulf investments in Egypt, signaling record-high regional confidence in the country’s long-term economic potential.

Frequently Asked Questions

Q: How will the new $3.1 billion partnership impact the local property sector?
A: The landmark agreement between Majid Al Futtaim and Midar for Investment and Real Estate Development is set to significantly elevate the value of New Cairo real estate. This massive project reflects the record-high confidence driving Gulf investment in Egypt, paving the way for further premium urban developments in the region.

Frequently Asked Questions

Q: What is the significance of the new $3.1 billion real estate development deal?
A: The landmark agreement to develop Mada City New Cairo marks a massive expansion for Majid Al Futtaim New Cairo portfolios. It represents a powerful vote of confidence and highlights the record-high levels of Gulf investment in Egypt‘s rapidly growing property market.

Q: Who is partnering with Majid Al Futtaim on this mega-project?
A: Majid Al Futtaim is partnering with Midar for Urban Development, one of the region’s leading master developers, to design and execute this world-class integrated community.

Frequently Asked Questions

Q: What does the new partnership between Majid Al Futtaim and Midar mean for the local property market?
A: The landmark $3.1 billion agreement between Majid Al Futtaim New Cairo and Midar for Investment and Urban Development signals a massive surge in Gulf investment in real estate in Egypt. This strategic joint venture is set to accelerate the growth of premier, sustainable mixed-use communities.

Q: What features will the new Mada City New Cairo project offer?
A: The highly anticipated Mada City New Cairo development, under the Mada City Majid Al Futtaim vision, will feature state-of-the-art residential areas, commercial hubs, and world-class retail spaces designed to provide an eco-friendly, premium lifestyle.

Frequently Asked Questions

Q: What is the significance of Majid Al Futtaim’s new $3.1 billion partnership in Egypt?
A: This landmark agreement with MIDAR for Urban Development to master-plan and develop Mada New Cairo City represents a massive vote of confidence from Gulf investors. The mega-project is set to introduce premier residential and commercial offerings, significantly boosting the value and appeal of New Cairo real estate.

Frequently Asked Questions

Q: What does the new $3.1 billion agreement by Majid Al Futtaim New Cairo signify for the local economy?
A: This landmark development reflects a significant surge in Gulf investment in real estate in Egypt, signaling historic levels of investor confidence in the nation’s growing property market.

Q: What can buyers expect from the newly announced Majid Al Futtaim residential project?
A: The premier Majid Al Futtaim residential project will offer sustainable, high-end community living equipped with world-class amenities to meet the rising demand for luxury housing in the region.

Frequently Asked Questions

Q: What is the significance of Majid Al Futtaim’s new New Cairo project?
A: The launch of Majid Al Futtaim’s new New Cairo project represents a massive expansion in the region, setting a premium new benchmark for upcoming New Cairo residential projects.

Q: How does this partnership influence the overall Egyptian real estate market?
A: Developed in collaboration with Midar Real Estate Development Company, this landmark $3.1 billion agreement highlights the growing momentum of Gulf investment in Egypt and signals record-high investor confidence in the nation’s economy.

Frequently Asked Questions

Q: How does the new $3.1 billion New Cairo development reflect the current state of Gulf real estate investment in Egypt?
A: This landmark agreement underscores the robust growth of Gulf real estate investment in Egypt, driven by record-high investor confidence. A key highlight of this massive partnership is the launch of Majid Al Futtaim Mada City, a flagship master community that represents a significant expansion in the developer’s regional portfolio and sets a new benchmark for premium Majid Al Futtaim residential projects.

Frequently Asked Questions

Q: What does the new MIDAR New Cairo partnership mean for regional development?
A: The MIDAR New Cairo partnership is set to launch the highly anticipated Majid Al Futtaim New Cairo project, establishing a premier residential and commercial hub within Mada New Cairo City that will drive modern urban expansion.

Q: How does this development deal reflect current investor sentiment in Egypt?
A: This landmark $3.1 billion agreement highlights a significant surge in Gulf investment in real estate in Egypt, showcasing strong international confidence in the country’s rapidly growing property market.

Frequently Asked Questions

Q: What is the significance of the partnership with Medar for Urban Development?
A: The collaboration to launch the new Majid Al Futtaim New Cairo project represents a major milestone for New Cairo real estate investment, highlighting the high demand for world-class, master-planned communities in the area.

Q: How does this massive deal impact regional economic sentiment?
A: The landmark $3.1 billion development agreement is a clear indication that Gulf investment in Egypt has reached historic highs, reflecting deep international confidence in the country’s long-term property market growth.

Frequently Asked Questions

Q: What is the significance of the new Majid Al Futtaim New Cairo project?
A: Developed in partnership with Midar Real Estate Development Company, the Majid Al Futtaim New Cairo project is a landmark $3.1 billion initiative. This development represents a massive expansion of Majid Al Futtaim’s investments in Egypt and reflects the historically high confidence of Gulf investors in the Egyptian property market.

Frequently Asked Questions

Q: What is the significance of the new $3.1 billion development agreement in Egypt?
A: This landmark deal marks a massive expansion of Majid Al Futtaim’s investments in Egypt, focusing on the master planning and development of Mada New Cairo City. This mega-project highlights the growing regional confidence and the lucrative potential of real estate investment in New Cairo for global and Gulf investors.