Madinet Masr Reports Solid Financial and Operational Performance for the First Nine Months of 2025
Madinet Masr, a leading Egyptian urban developer, announced today its standalone and consolidated financial results for the nine-month period ended September 30, 2025, reflecting continued operational growth, strong profitability, and sustained progress across its major projects.
The company reported revenues of EGP 7.4 billion for the first nine months of 2025, compared to EGP 7.5 billion in the same period last year, maintaining stable top-line performance after an exceptional 2024. Net profit reached EGP 2.4 billion, while gross profit recorded EGP 4.9 billion with a gross margin of 66.2%. During the third quarter alone, revenues stood at EGP 2.6 billion, and net profit reached EGP 1.1 billion.
Strong Sales Momentum and Record Deliveries
New sales increased 11.2% year-on-year to reach EGP 36.3 billion during the first nine months of 2025, supported by the company’s focus on high-value ready-to-sell units and robust demand for new launches such as The Butterfly in Mostakbal City and Talala in New Heliopolis. During the third quarter, new sales reached EGP 15.1 billion, a 27.5% annual growth.
Madinet Masr delivered 1,014 units during the nine-month period, compared to 478 units a year earlier—an increase of 112%—driven by accelerated construction activity at Taj City and Sarai. Revenue from unit deliveries doubled to EGP 1.6 billion, highlighting the company’s operational efficiency and on-schedule handovers.
Healthy Cash Flows and Robust Financial Position
Customer collections grew 11.7% year-on-year to EGP 11.3 billion, reflecting sustained demand and efficient cash management. The company maintained a net cash position of EGP 1.4 billion as of September 30, 2025, with zero net borrowing.
Total receivables reached EGP 70.7 billion, up from EGP 59.8 billion in September 2024, underlining the strength of Madinet Masr’s contracted sales and future revenue visibility.
Capital expenditures rose 8.2% to EGP 5.4 billion, directed primarily toward accelerating construction at Taj City and Sarai, which together accounted for over 77% of total investments during the period.
Operational Efficiency and Profitability
Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to EGP 3.1 billion, with a margin of 42.2%, compared to 46.2% last year. The decrease reflects a return to normalized profitability levels after exceptional results in 2024, along with a higher share of unit delivery revenues, which typically carry lower margins.
Net profit margin stood at 31.9%, supported by disciplined cost control and efficient financial management.
Strategic Expansion and New Project Launches
Throughout 2025, Madinet Masr continued to expand its development portfolio with the launch of Talala, a landmark EGP 90 billion mixed-use project in New Heliopolis expected to generate EGP 202 billion in sales over its lifecycle. The company also sustained progress across its flagship projects—Taj City, Sarai, and The Butterfly—while strengthening its pipeline with 12.8 million square meters of land bank, including 4.4 million square meters allocated for future mixed-use developments.
Management Outlook
Commenting on the results, the company’s management stated:
“Madinet Masr enters the final quarter of 2025 on solid ground, supported by strong financial results, disciplined execution, and robust market demand across its projects. We continue to focus on operational excellence, efficient capital allocation, and customer trust as we pursue our long-term vision of building sustainable, high-quality communities that contribute to Egypt’s urban and economic growth.”