MIDAR for Investment and Urban Development has held an event at the Cairo Opera House to mark its 20th anniversary, during which it reviewed its recent performance and announced a series of new investment agreements and strategic partnerships.
The company revealed that it has signed a memorandum of understanding to invest approximately $2bn in hotel and entertainment projects, in cooperation with Saudi Arabia’s Sumou Investment, Adeer—an affiliate of Adeer Holding and Sumou Holding—and Hassan Allam Properties.
MIDAR also highlighted major regional partnerships concluded over the past year, including a collaboration with UAE-based Emaar to develop an integrated residential project in MADA, with investments estimated at around EGP 100bn.
Additional agreements include a partnership with Adeer International to develop a large-scale project in Mostakbal City with investments of about EGP 70bn, as well as a partnership with SODIC to develop an integrated urban community in MADA, with investments reaching EGP 110bn.
MIDAR’s Chief Executive Officer and Managing Director, Ayman ElKousey, said the company’s recent expansion reflects its focus on accelerating project implementation and attracting long-term investments. He noted that Mostakbal City currently hosts more than 30 developers working on 52 projects, while MADA, launched in 2024, has already attracted several regional developers.
ElKousey added that MIDAR plans to continue expanding its project portfolio, including mixed-use, medical, educational, and entertainment developments, alongside ongoing efforts to enhance infrastructure within its cities.
The company also reported strong financial performance in 2024, with revenues rising significantly compared to the previous year, driven by increased investment activity. MIDAR further announced that it has obtained international ISO certifications in quality management, occupational safety, and environmental management.
