 | |
|
Cairo, 20 November 2024 - MIDAR for Investment and Urban Development, the Master Developer of "Mostakbal City" and "MADA" in East Cairo, continues to establish its leading position in developing integrated and sustainable smart cities by participating as a Master Sponsor in the 28th edition of the Cairo International Communications and Information Technology Exhibition (Cairo ICT 2024). The exhibition is the most prominent event in the technology field in the Middle East and Africa, inaugurated by Dr. Mostafa Madbouly, Prime Minister, under the patronage of His Excellency President Abdel Fattah El-Sisi.
MIDAR's participation and sponsorship of the exhibition for the second consecutive year confirms its commitment to adopting the latest technological advancements and utilizing them in the development of smart cities, contributing to the creation of smart and sustainable urban communities that meet the needs of residents according to the highest standards of quality and innovation.
 |
On the sidelines of the Cairo ICT exhibition, a formal dinner was held attended by a select group of investors and major local and international companies in the technology sector. Engineer Ayman ElKousey, Managing Director and CEO of MIDAR for Investment and Urban Development, expressed the company's pride in participating in this event and sponsoring the exhibition for the second consecutive year, emphasizing that this event is a significant opportunity to learn about the latest technological innovations that support MIDAR's vision for developing smart and sustainable cities. ElKousey explained that technology has become a fundamental pillar in achieving urban development, which the company aims to accomplish by integrating modern technologies into all its urban projects.
Engineer Ayman ElKousey stated: We focus on adopting digital transformation in various aspects of technology and smart cities to enhance sustainability in MIDAR's cities
Ayman ElKousey added: "We are committed to applying the latest innovations and technological solutions to enhance the living experience in MIDAR cities. Recently, we became the first company in Egypt to obtain an Internet of Things (IoT) license from the National Telecommunications Regulatory Authority, enabling us to present a comprehensive model for smart cities. This represents a qualitative leap in the development of MIDAR-owned cities, such as Mostakbal City, which is one of the prominent fourth-generation cities in Egypt, and Mada, which is considered a fifth-generation city featuring recreational, educational, medical, commercial, and residential areas designed according to the latest architectural styles to be a distinguished and attractive destination for investments at both regional and global levels."
MIDAR for Investment and Urban Development was established in 2006 and is one of the largest leading companies in the field of investment and urban development in Egypt. It is among the first companies to implement the concept of a Master Developer for integrated residential and recreational cities in Egypt. MIDAR’s ownership structure includes a selection of major financial institutions in Egypt, such as Bank Misr, National Investment Bank, National Bank of Egypt, and Arab Contractors Company.
MIDAR is considered the preferred partner for major investment entities, both Egyptian and foreign. The company owns a land portfolio estimated at about 11,000 Feddans in East Cairo. "Mostakbal City" is the first city launched by MIDAR, covering an area of 5,200 Feddans. MIDAR successfully attracted 28 leading real estate development companies across various specialties to develop 42 projects in "Mostakbal City." Recently, MIDAR launched "MADA" city, which spans 5,800 Feddans with a 3-kilometer frontage along the Cairo-Suez Road. This city includes an entertainment city, a theme park, a shopping city, an educational city, a medical city, and residential areas, designed to accommodate approximately 1 million residents, with 500,000 residents in each city.