Cairo – Mubasher: Madinet Masr Housing and Development has launched its latest project Butterfly, through its subsidiary Minka, according to a press release.
The development scheme, which is expected to generate sales reaching EGP 64 billion, aligns with the company’s ongoing efforts to diversify its offerings and cater to various tastes in the real estate market.
Located on Al Amal Axis in Mostakbal City, Butterfly spans 187 feddans and includes S Villas of 238 sqm, townhouses ranging from 245 to 256 sqm, and standalone villas from 175 to 240 sqm.
In August, Madinet Masr and Smart Construction and Development (SCAD) teamed up to establish the Sarai project with a contractual value of EGP 650 million.
During the first half (H1) of 2024, the EGX-listed firm posted 149.40% year-on-year (YoY) higher consolidated net profits at EGP 1.45 billion, compared to EGP 584.70 million.
