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Madinet Masr reports results for FY 2024


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As we close 2024, I am pleased to share Madinet Masr's strong financial and operational performance, reflecting the resilience of our strategy, the strength of our business model, and our ability to navigate a dynamic market environment.

Madinet Masr, a leading real estate developer in Egypt, has announced its financial results for the fiscal year ending December 31, 2023. The company reported a significant increase in revenue, reaching EGP 10.6 billion, up by 55% from the previous year. This growth was driven by strong sales performance across its various projects, particularly in the Taj City and Sarai developments. Additionally, Madinet Masr achieved a gross profit of EGP 3.7 billion, marking a 48% increase year-over-year, with a gross profit margin of 35%. The company also highlighted its commitment to sustainable development and community enhancement, with initiatives aimed at improving infrastructure and amenities within its projects. Despite economic challenges, Madinet Masr managed to maintain a robust financial position, with total assets growing to EGP 32.5 billion. The company's strategic focus on innovation, customer satisfaction, and operational efficiency has positioned it well for continued growth in the Egyptian real estate market.

Read the Full ZAWYA Article at:
[ https://www.zawya.com/en/press-release/companies-news/madinet-masr-reports-results-for-fy-2024-qhti3ydt ]

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