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Korra Energi Signs MoU with Madinet Masr to Accelerate Construction at Taj City with Investments Exceeding EGP 480 Million
Korra Energi is proud to announce the signing of a Memorandum of Understanding (MoU) with Madinet Masr
Cairo, 27 January 2025 – Korra Energi, a leader in building and construction, is proud to announce the signing of a Memorandum of Understanding (MoU) with Madinet Masr (EGX code: MASR.CA), one of Egypt’s premier real estate developers. This partnership aims to expedite construction at Taj City, a flagship mixed-use project in New Cairo, with investments exceeding EGP 480 million.
Under this agreement, Korra Energi will execute a comprehensive turnkey project for the Taj Plaza and Boulevard Showroom within Taj City. Spanning 22,000 square meters across multiple levels, this extensive project includes civil, electromechanical, and finishing works. The construction is scheduled for completion in 2025, adhering to world-class standards to ensure maximum luxury, comfort, and value for customers.
The MoU was signed by Eng. Ayman Korra, President & CEO of Korra Energi, and Eng. Abdallah Sallam, President and CEO of Madinet Masr, along with Vice President Heba Korra, in the presence of senior executives from both companies. This collaboration reflects the shared commitment of both entities to innovation, excellence, and creating a world-class shopping destination.
Eng. Ayman Korra & Heba Korra Commented
Eng. Ayman Korra, President & CEO of Korra Energi, commented: “We are proud to partner with Madinet Masr, one of the leading companies in the Egyptian market. Together, we share a vision of building a sustainable future, leveraging the latest global building and construction technologies while adhering to the highest international standards.”
Heba Korra, Vice President of Korra Energi, added: “This partnership underscores our dedication to delivering innovative construction solutions that contribute to the development of Egypt’s real estate sector. Taj City will be a game-changer in the market, not only in terms of quality and design but also in offering an exceptional residential and commercial experience that meets the evolving needs of customers.”
Eng. Abdallah Sallam Stated
Eng. Abdallah Sallam, President and CEO of Madinet Masr, stated: “At Madinet Masr, we firmly believe that strategic partnerships are key to driving innovation and achieving sustainable economic growth. Strengthening and diversifying our collaborations with leading entities like Korra Energi allows us to enhance the Madinet Masr brand and create tangible value for our customers. This project aligns with Egypt’s urban development goals and Vision 2030, reinforcing our leadership in the real estate sector.”
Spanning 3.5 million square meters, Taj City is a testament to Madinet Masr's 65-year legacy of leadership and excellence in the Egyptian market. Strategically located in New Cairo on the ring road, Taj City is in close proximity to Cairo International Airport and minutes away from East Cairo, Downtown, and Heliopolis. The project seamlessly integrates residential communities with best-in-class facilities, innovative shopping concepts, a modern lifestyle, and a spectacular green landscape that reflects the warmth, values, and rich history of Egyptian culture.
Through this collaboration, Korra Energi and Madinet Masr are not only shaping a brighter, more sustainable future but also setting new benchmarks for quality and innovation in Egypt’s real estate industry.
