Table of Contents
Key Points
- Egyptian real estate giant Madinet Masr buys back 42.7 million shares, signaling confidence in long-term growth and shareholder value.
- Madinet Masr posts 38% profit surge to $58.3 million, driven by robust sales and increasing revenues, solidifying its market dominance.
- Madinet Masr partners with Dino Activations to sponsor Cairo event, enhancing brand presence amid Egypt’s growing real estate and entertainment sectors.
Madinet Masr Housing and Development (MNHD), one of Egypt’s top real estate players led by Abdallah Sallam, has executed a major share buyback in a move that signals strong confidence in the company’s future and its commitment to rewarding shareholders.
The Cairo-based developer said it has repurchased 42.7 million shares, about 2 percent of its total share capital, through open-market transactions. This is part of a broader plan to buy back up to 4 percent of outstanding shares, or roughly 85.4 million shares, following a board approval on Mar. 6, 2025.
The transactions followed all rules set by Egypt’s Financial Regulatory Authority (FRA) and the Egyptian Exchange (EGX). “This share buyback reflects our strong confidence in the company’s financial health and growth prospects,” the company said in a statement.
Strong earnings highlight company performance
The buyback comes on the heels of a standout financial year. Madinet Masr’s net profit jumped 38 percent to $58.3 million, driven by strong contracted sales totaling $911 million and a 7.2 percent rise in net operating revenue. These results solidify the company’s place as one of the key players in Egypt’s growing property market.
Since its founding in 1959, Madinet Masr has evolved into a major force in real estate, with a wide-ranging portfolio that includes residential, commercial, and mixed-use developments. Under Sallam’s leadership, the company has continued to grow—most notably through the launch of MINKA Development, a new arm focused on tapping into emerging trends and newly built urban areas.
More than just buildings
Beyond real estate, Madinet Masr is also working to strengthen its public presence. The company recently teamed up with Dino Activations to sponsor a major entertainment event in Cairo, an example of its growing involvement in Egypt’s vibrant lifestyle and entertainment scene.
In many ways, the share buyback serves as more than a financial decision. It reflects management’s belief that the company is undervalued and has room to grow. With Egypt’s real estate market gaining ground thanks to rapid urbanization and rising demand for new housing, Madinet Masr appears ready to meet the moment.
