Cairo - Mubasher The shareholders of Madinet Masr for Housing and Development approved, during the annual general meeting, the first treasury stock distribution in its history.
Madinet Masr will disburse 85.40 million treasury shares to shareholders, representing 4% of outstanding shares.
Valued at EGP 463 million, the distribution ratio is 0.04 treasury shares for every outstanding share, with fractional shares rounded in favor of minority shareholders.
The move does not alter the company’s issued capital or total number of shares and follows regulatory approval from the Financial Regulatory Authority (FRA).
The eligibility for the distribution was based on shareholders of record at the close of trading on 3 March 2026.
The step comes after the company launched a stock buyback program in March 2025, aiming to enhance shareholder value by addressing perceived undervaluation of its shares.
Moreover, the company’s board has preliminarily approved a proposed cash dividend of EGP 0.15 per share.
Mohamed Hazem Barakat, the Chairman of Madinet Masr, said: “The decision to distribute treasury stocks for the first time in the company’s history since its listing on the Egyptian Stock Exchange in 1995, reflects our ongoing commitment to enhancing long-term value for our shareholders and reinforcing investor confidence, while strengthening Madinet Masr’s influential presence in the financial markets and further solidifying the company’s position as a leading player in Egypt’s real estate market.”
The Chairman added: “Supported by a strong asset base and an integrated business model, we are well positioned to manage capital efficiently and sustain long-term growth.”
“At the same time, this step reflects our commitment to strong governance and responsible resource management, while contributing to enhancing the attractiveness of Egypt’s real estate market as a promising investment destination both locally and regionally,” he emphasized.
For his part, Abdallah Salam, President and CEO of Madinet Masr, commented: “This decision has received the full support of the board members, which place their trust in our strategic vision and provides full backing for initiatives aimed at maximizing shareholder value and enhancing the company’s competitiveness in the financial markets, and the approval of the Ordinary General Assembly as well.”
In January 2026, Madinet Masr inked a memorandum of understanding (MoU) with Aboelwafa for Contracting and Real Estate Investment to execute construction works for the ClubSide phase within the Taj City project, at a total value of EGP 3.30 billion.
