Cairo – Mubasher: Madinet Masr Housing and Development announced plans to establish real estate development projects outside Egypt, according to a bourse disclosure.

The group’s board approved injecting investments of nearly $5 million to boost expansion plans.

Last month, Secure Assets for Fixed Earnings (SAFE) by Madinet Masr rolled out plans to create a real estate investment fund in Saudi Arabia, with a target capital of EGP 300 million.

In the first half (H1) of 2025, the real estate developer’s consolidated net profits after tax and non-controlling interest fell by 11% year-on-year (YoY) to EGP 1.28 billion from EGP 1.45 billion.