MIDAR Reports Over 500% Profit Growth in FY 2024, Driven by Strategic Developer Partnerships

Exceptional Revenue Surge Reflects Operational Momentum

MIDAR for Investment and Urban Development has announced its financial results for fiscal year 2024, reporting an impressive 584% growth in revenue. This exceptional performance comes on the back of successful strategic partnerships with top-tier real estate developers advancing key projects in MIDAR’s flagship cities, Mostakbal City and MADA in New Cairo.

Over 500% Jump in Net Profit

The company’s net operating profit soared by more than 500% compared to FY 2023, reinforcing MIDAR’s status as a premier investment partner for local, regional, and international investors aiming to develop world-class sustainable urban communities.

Elkousey: A Proven Model for Integrated City Development

Eng. Ayman Elkousey, CEO and Managing Director of MIDAR, attributed the company’s exceptional results to its strategic vision and pioneering role as Egypt’s leading master developer of sustainable integrated cities. He emphasized that the company’s financial success reflects its market leadership and investor confidence in its long-term development approach.

Recognized by the Ministry of Finance for Transparency

Elkousey also expressed pride in MIDAR’s recognition by the Ministry of Finance at the “Shokran” (Thank You) Conference, organized in collaboration with the Egyptian Tax Authority. This recognition affirms MIDAR’s commitment to transparency, tax compliance, and its role in supporting the government’s efforts to modernize Egypt’s financial and tax infrastructure.

Positioned for Future Growth and Partnerships

With a robust financial outlook and growing demand for modern, integrated urban projects, MIDAR remains well-positioned to attract further investment from leading real estate and entertainment developers, reinforcing its role in shaping Egypt’s urban future.