Egypt, UAE sign $3bn-plus deal to build Mada project in New Cairo
Egypt and UAE investors sign deal to develop the Mada project in New Cairo, a $3bn-plus urban development on 553 feddans featuring retail, leisure and factories
The Egyptian Cabinet announced the signing of an investment partnership on Sunday to develop the Mada project in New Cairo, marking a major cooperation between Egyptian private firms and Emirati investors. The agreement tasks Midar Investment and Urban Development together with Majid Al Futtaim to deliver a mixed-use urban community with investments exceeding $3 billion. Officials said the site covers roughly 553 feddans and will combine entertainment, retail, dining and dedicated food and garment production to support the development.
Partnership and signatories
The agreement was formalised in a government session that named Midar Investment and Urban Development alongside the Majid Al Futtaim Group as the principal private-sector partners. Egyptian authorities described the arrangement as a strategic public-private collaboration aimed at accelerating urban growth in New Cairo. The Cabinet’s announcement framed the deal as part of broader efforts to attract foreign capital and expertise to large-scale projects in Greater Cairo.
Project footprint and components
Government statements specified the project’s footprint at 553 feddans, equivalent to approximately 232 hectares or about 574 acres. Plans for the Mada project include a leisure and entertainment district, extensive retail and dining outlets, and on-site manufacturing units for food and clothing intended to service the community. Officials emphasised that these industrial components will be integrated to support the development’s supply chain and reduce dependency on external suppliers.
Investor perspective and scale
Ahmed Galal Ismail, chief executive of Majid Al Futtaim, said the development represents the largest project the group has undertaken in Egypt to date, noting the site’s scale and strategic importance. Majid Al Futtaim’s involvement brings experience in retail, shopping centres and mixed-use urban planning across the region, while Midar contributes local development knowledge and land management. Together, the partners expect to leverage their respective strengths to deliver a comprehensive urban environment.
Government endorsement and local impact
Prime Minister Mostafa Madbouly highlighted the government’s support for the project and underscored its projected footprint within New Cairo. He told officials the development will include facilities and operations that specifically serve the project, such as restaurants, retail outlets and factories for food and clothing. Authorities framed the initiative as consistent with national priorities to expand urban infrastructure, stimulate investment, and create jobs in the construction, retail and manufacturing sectors.
Economic implications and employment potential
Analysts say a project of this magnitude typically generates thousands of construction jobs during the build phase and sustained employment once retail and manufacturing operations commence. By embedding production units for food and garments within the development, planners aim to create stable, localised value chains that can boost supplier activity and logistics demand. The investment size—reported at over $3 billion—could also attract ancillary investments in transport, utilities and services to support long-term operations.
Next steps and timeline clarity
Officials have not published a detailed construction schedule or completion timeline, leaving the phasing and specific delivery dates to be announced by the developers. Project stakeholders will be expected to submit technical plans and obtain the necessary municipal and regulatory approvals before large-scale construction begins. Observers note that securing permits and aligning infrastructure works will be critical to meeting investment milestones and ensuring the planned industrial elements can be operational within reasonable timeframes.
This partnership underscores growing economic links between Egypt and the UAE and highlights the role of private-sector-led, large-scale urban projects in shaping Greater Cairo’s expansion. The Mada project’s combination of retail, leisure and on-site manufacturing aims to set a new model for integrated urban developments in the region.
