Cairo – Mubasher: Secure Assets for Fixed Earnings (SAFE), owned by Madinet Masr Housing and Development, plans to establish a real estate investment fund in Saudi Arabia, with a target capital of EGP 300 million.

This move aligns with the company’s objectives to enhance future growth opportunities, according to a bourse filing.

Madinat Misr is considering three plots of land for a residential project in Riyadh. They range in size from 300,000 to 500,000 square meters.

SAFE handled transactions amounting to EGP 300 million in inventory value after facilitating the sale of more than 5,600 property shares within its first six months of operation.

In the first half (H1) of 2025, the EGX-listed company’s consolidated net profits after tax and non-controlling interest dropped by 11% to EGP 1.28 billion from EGP 1.45 billion in H1-24.