Madinet Masr targets $422m sales from Park Tree Elm

Madinet Masr Housing and Development, the Egyptian real estate firm led by Abdallah Sallam, has unveiled a new phase within its Saray mixed-use project, with an investment worth 11 billion Egyptian pounds ($232 million). 

The project, called Park Tree Elm, sits near Egypt’s New Administrative Capital and spans about 262,000 square meters. It will include 2,150 units ranging from apartments and townhouses to standalone and villa-s units. 

To attract a wider pool of buyers, Madinet Masr is offering flexible payment plans, with monthly installments starting at EGP 5,490 ($116) for studio apartments.

Abdallah Sallam bets on Egypt’s housing growth 

Abdallah Sallam, the company’s chief executive and managing director, said the new development reflects Madinet Masr’s long-term strategy to grow its presence in Egypt’s housing market while making property ownership more accessible. 

“The launch of Park Tree Elm builds on our commitment to offer innovative, well-planned communities that meet the needs of a broader segment of Egyptians,” Sallam said. “Our new payment plans are designed to make home ownership easier and to stimulate sustained demand in the sector.” 

The company expects the development to generate about EGP 20 billion ($422 million) in total sales, signaling its confidence in the resilience of Egypt’s property sector despite broader economic pressures. 

The wider Saray development covers about 5.5 million square meters along the Cairo–Suez road and the Al-Amal axis. It combines residential, commercial, and green spaces aimed at offering residents a modern lifestyle away from Cairo’s congestion.

Expanding beyond Egypt 

Founded in 1959, Madinet Masr has delivered more than 20,000 housing units over six decades. It has earned a reputation for large-scale residential projects that help address the capital’s housing needs. Under Sallam’s leadership, the company is broadening its reach beyond Egypt.

In September, the board approved about $5 million to fund international expansion, reflecting growing interest from Egyptian developers in regional and global markets. Earlier in August, Madinet Masr unveiled Talala, a landmark EGP90 billion ($1.9 billion) residential and commercial development in New Heliopolis City, east of Cairo. 

With projects such as Park Tree Elm and Talala, Madinet Masr is reinforcing its position among Egypt’s leading real estate players—balancing innovation, affordability, and long-term growth in one of the Middle East’s most active property markets.