Cairo - Mubasher: Makadi Heights for Tourism Development Company, a subsidiary of Orascom Development Egypt, has signed an agreement with the Egyptian government to develop a new 1.02 million square meters (sqm) land plot adjacent to the existing Makadi Heights destination.
The contract will become effective in January 2026, expanding Makadi Heights’ current master plan to 4.75 million sqm, according to a press release.
The land plot will include the construction of residential, commercial, and hospitality units to meet the increasing demand for integrated coastal destinations.
It is worth noting that, under the terms of the agreement, the government will receive 50% of the project’s components in kind.
Chairman of Orascom Development, Eskandar Tooma, said: “The new land plot, with its distinctive beachfront, represents an important strategic addition that enhances the long-term positioning of Makadi Heights and strengthens its competitiveness as a leading coastal destination.”
Tooma added: “This milestone supports our vision of creating a fully integrated community that delivers an exceptional lifestyle with high development standards that reflect the destination’s unique and sustainable character.”
It is worth mentioningg that in September 2025, Orascom Development unveiled cash dividends of EGP 0.38 per share to the shareholders.
