Madinet Masr, GTCI Partner To Invest Over EGP 263M In Taj City Infrastructure
Date
1/16/2025 12:42:42 AM
(MENAFN- Daily News Egypt) Egyptian Real estate developer Madinet Masr has entered a strategic partnership with GTCI Constructors for energy and Infrastructure Projects, a subsidiary of Al Tawakol Group, to invest more than EGP 263m in advancing the infrastructure of Taj City, a mixed-use development in New Cairo.
The partnership underscores Madinet Masr's commitment to high-quality infrastructure development, fostering strategic collaborations, and aligning with Egypt's Vision 2030. Through this agreement, GTCI will undertake the expansion of water and irrigation tanks in Taj City, adhering to the highest international standards. Construction is slated for completion by 2025.
Abdallah Sallam, President and CEO of Madinet Masr, expressed confidence in GTCI's expertise, stating:“We are pleased to collaborate with GTCI to elevate the advanced infrastructure of our flagship project, Taj City. Together, we aim to deliver superior services that meet the highest benchmarks for quality and efficiency.”
Mohamed Lashin, Senior Vice President of Projects at Madinet Masr, added:“By integrating cutting-edge technologies in water and irrigation systems and enhancing green spaces, we are accelerating progress and creating exceptional value for our customers at Taj City.”
Situated along the Ring Road in New Cairo, Taj City boasts a prime location near Cairo International Airport, just minutes from East Cairo, Downtown, and Heliopolis. Spanning 3.6 million sqm, the development seamlessly blends residential designs with retail, contemporary lifestyle amenities, and expansive green areas.
This collaboration with GTCI not only accelerates construction progress but also solidifies Madinet Masr's position as a leader in Egypt's real estate market. The company's dedication to sustainable development ensures that Taj City remains a cornerstone of urban progress in New Cairo, contributing to the broader goals of Egypt's urban development initiatives and the real estate sector's growth.
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