Sixth of October Development and Investment Company (SODIC) has announced a strategic partnership with MIDAR for Investment and Urban Development to develop a large-scale integrated urban project covering 500 feddans within MADA City in Mostakbal City. The total investment for the project is estimated at EGP 110bn.
During a press conference on Sunday, MIDAR’s CEO and Managing Director, Ayman ElKousey, revealed that the project will be developed under a revenue-sharing model. He highlighted that Mostakbal City currently hosts more than 26 real estate developers, and this new collaboration aims to strengthen partnerships with both local and regional investors while advancing the city’s infrastructure and services.
SODIC’s General Manager, Ayman Amer, noted that this partnership increases the company’s newly acquired land portfolio to approximately 2,000 feddans within the past 24 months. Amer added that SODIC targets a 150% growth in sales and a 200% rise in revenues through its recent expansions, reinforcing its position as one of Egypt’s top real estate developers.
Founded in 2006, MIDAR holds a land portfolio of roughly 11,000 feddans in east Cairo, with its developments designed to accommodate nearly one million residents. Mostakbal City, a flagship MIDAR development, spans 5,200 feddans and has attracted over 20 prominent real estate developers specializing in diverse sectors to establish projects within the city.
MIDAR has also launched MADA City, Egypt’s first fifth-generation city, which covers 5,800 feddans along a 3-kilometer stretch of the Cairo–Suez Road. The city features residential neighborhoods, retail areas, educational districts, healthcare centers, and entertainment hubs.
Beyond city development, MIDAR has created several service-oriented companies dedicated to supporting residents and investors, including CTRL (facility management), WAYZ (transportation and mobility), and CIRCUIT (electricity distribution), all committed to delivering high standards of quality and operational efficiency.
