Latest news with #AbdallahSallam
Zawya
2 days ago
- Business
- Zawya
Egypt: Madinet Masr's SAFE app generates $6mln in less than 6 months
Arab Finance: Madinet Masr 's investment platform Secure Assets for Fixed Earnings (SAFE) managed transactions at a combined value of nearly EGP 300 million in less than six months, according to a press release. Since its launch in December 2024, SAFE facilitated the sale of more than 5,600 property shares and attracted over 65,000 users within its first six months of operation. Starting from the second month, over 3,500 investors have begun earning monthly rental yields, with average annual returns of 10%, many of which are linked to the USD exchange rate. In line with Madinet Masr's strategy, the platform is currently expanding access to real estate ownership, offering entry points starting at EGP 50,000 per share. This contributed to bolstering financial inclusion, enabling wealth creation, and driving long-term sustainable development. The app is among the first companies to apply under the Financial Regulatory Authority's (FRA) initiative to regulate the fractional real estate market. Abdallah Sallam, President and CEO of Madinet Masr, said: "SAFE embodies our vision for delivering innovative concepts that revolutionize real estate market by pioneering fractional ownership in Egypt. It reflects our strategic ambition to reshape the future of property investment by making it more inclusive, accessible, and digitally enabled." He added: "As it evolves, the application will continue to empower individuals to build wealth through accessible and smart real estate investment solutions with a robust pipeline of projects valued at over EGP 1 billion expected within its first year." For his part, Salah Katamish, Senior Vice President of Investment & Strategy at Madinet Masr, commented: "The early numbers show a clear and growing demand for flexible, high-yielding, and trustworthy property-backed investments. We are currently expanding our property pipeline and introducing new features, further enhancing the application's value propositions. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Tahya Masr
3 days ago
- Business
- Tahya Masr
Madinet Masr sets a new standard for fractional real estate investment in Egypt
Madinet Masr (EGX: one of Egypt's leading real estate development companies, announced that SAFE (Secure Assets for Fixed Earnings), a first-of-its-kind fractional real estate investment platforms, is among the first platforms to apply under the Financial Regulatory Authority's (FRA) initiative to regulate the fractional real estate market. This step reflects Madinet Masr's ongoing commitment to shaping a secure, transparent, and future-ready investment, while driving innovation and enhancing investment accessibility in Egypt and beyond. SAFE is emerging as a reliable and innovative investment channel for income-generating real estate assets. Since its launch in December 2024, SAFE has handled transactions totaling nearly EGP 300 million in inventory value, facilitated the sale of over 5,600 property shares, and attracted more than 65,000 users within its first six months of operation. More than 3,500 investors have begun earning monthly rental yields starting from the month following their investment, with average annual returns of 10%, many of which are linked to the USD exchange rate. These milestones underscore the application's strong market positioning as one of the fastest growing proptech ventures in Egypt. By offering entry points starting at EGP 50,000 per share, the application is expanding access to real estate ownership while advancing Madinet Masr's strategic objective of promoting financial inclusion, enabling wealth creation, advancing the sector and supporting long-term sustainable development. Commenting on the milestone, Eng. Abdallah Sallam, President and CEO of Madinet Masr, said: 'SAFE embodies our vision for delivering innovative concepts that revolutionize real estate market by pioneering fractional ownership in Egypt. It reflects our strategic ambition to reshape the future of property investment by making it more inclusive, accessible, and digitally enabled. The momentum we've seen in just a few months confirms the market's appetite for innovative, secure, and flexible investment models that respond to the evolving needs of today's investors. He added: 'As an application, SAFE is a cornerstone of our broader innovation roadmap, supporting our vision to drive financial inclusion and sustainable economic growth through fractional ownership. As it evolves, the application will continue to empower individuals to build wealth through accessible and smart real estate investment solutions with a robust pipeline of projects valued at over EGP 1 billion expected within its first year. We are pleased to be among the first companies to apply under the Financial Regulatory Authority's (FRA) initiative to regulate the fractional real estate market." For his part, Salah Katamish, Senior Vice President of Investment & Strategy at Madinet Masr, commented: 'SAFE was engineered to simplify real estate investment without compromising on security, returns, or user experience. From onboarding to portfolio tracking, every aspect of the application was built to meet the expectations of today's digitally savvy investors. The early numbers show a clear and growing demand for flexible, high-yielding, and trustworthy property-backed investments. We are currently expanding our property pipeline and introducing new features, further enhancing the application's value proposition. As it continues to grow, SAFE remains committed to transparency, trust, and long-term value creation for its users, partners, and stakeholders.' Developed by Minka Development, a subsidiary of Madinet Masr, and launched under the umbrella of Madinet Masr Innovation Labs, SAFE is an application that introduces fractional ownership to the real estate sector. It promotes transparency, aligns with national regulatory standards, and strengthens investor confidence in the Egyptian real estate market. SAFE continues to advance as a reflection of Madinet Masr's steadfast commitment to innovation and financial inclusion. With plans underway to introduce the application to regional markets, the company remains focused on expanding SAFE's impact and accessibility. Guided by a clear future vision, Madinet Masr is paving the way for broader investment participation and sustained value creation across the real estate sector.
Zawya
16-06-2025
- Business
- Zawya
Egypt: Madinet Masr signs MoU to expand presence Saudi real estate market
Arab Finance: Madinet Masr inked a memorandum of understanding (MoU) with Waheej for Real Estate to explore creating a joint real estate development company in Saudi Arabia, according to a press release. The deal aligns with Madinet Masr's goals to strengthen its footprint in the Saudi real estate market, expand regionally, and explore new investment opportunities. Madinet Mast will team up with Waheej, a licensed Saudi real estate developer, to exchange technical and financial expertise to establish residential, commercial, and administrative projects in the Kingdom. This initiative comes within the framework of Saudi Vision 2030, supporting homeownership opportunities and enhancing quality of life for both citizens and residents. Abdallah Sallam, President and CEO of Madinet Masr, said: "This partnership marks an important milestone in our expansion strategy across regional markets-particularly in Saudi Arabia, which is witnessing remarkable urban and economic growth." On his part, Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate, commented: "Through this collaboration, we aim to exchange knowledge and deliver impactful projects that support the housing sector and contribute to the Kingdom's broader development objectives." © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
16-06-2025
- Business
- Zawya
Madinet Masr, Waheej mull developing JV in Saudi Arabia
Cairo – Madinet Masr Housing and Development penned a memorandum of understanding (MoU) with Waheej for Real Estate to expand its presence in the Saudi real estate market. Madinet Masr and the licensed Saudi real estate developer will exchange technical and financial expertise to build residential, commercial, and administrative projects in the Kingdom. The two parties will also explore the potential establishment of a joint real estate development company in the Kingdom, according to a press release. In line with the Saudi Vision 2030, the agreement supports homeownership opportunities and the quality of life for both citizens and residents. Abdallah Sallam, President and CEO of Madinet Masr, commented: 'This partnership marks an important milestone in our expansion strategy across regional markets—particularly in Saudi Arabia, which is witnessing remarkable urban and economic growth." Rashid Saud Al Jadoua, CEO of Waheej for Real Estate, indicated: "We aim to exchange knowledge and deliver impactful projects that support the housing sector and contribute to the Kingdom's broader development objectives." In the first quarter (Q1) of 2025, the EGX-listed firm posted 32.64% year-on-year (YoY) lower consolidated net profits after tax and non-controlling interest at EGP 793.85 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Daily News Egypt
15-06-2025
- Business
- Daily News Egypt
Madinet Masr, Waheej sign MoU to drive strategic expansion in Saudi Arabia
Madinet Masr, one of Egypt's leading real estate developers, has signed a Memorandum of Understanding (MoU) with Waheej for Real Estate, a licensed Saudi real estate firm, marking a key step in its regional expansion strategy and pursuit of new investment opportunities. The MoU was signed at Waheej's headquarters in Riyadh by Abdallah Sallam, President and CEO of Madinet Masr, and Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate. Under the agreement, the two companies will explore the joint development of residential, commercial, and administrative projects across the Kingdom of Saudi Arabia. The partnership aims to leverage shared technical and financial expertise, aligning with the goals of Saudi Vision 2030 to boost homeownership and enhance quality of life for citizens and residents alike. 'This partnership marks a significant milestone in our regional growth strategy, particularly in Saudi Arabia, which is experiencing unprecedented urban and economic transformation,' said Abdallah Sallam, President and CEO of Madinet Masr. Rashid Saud Al-Jadoua, CEO of Waheej for Real Estate, commented: 'Through this collaboration, we aim to exchange knowledge and deliver high-impact projects that contribute to the Kingdom's housing sector and broader development goals.' The MoU also includes plans for the potential formation of a joint real estate development company in Saudi Arabia. Each future project will be governed by separate agreements detailing the scope and responsibilities of both parties. This partnership reflects a shared commitment to establishing a long-term, strategic relationship built on mutual understanding and full regulatory compliance.
