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Madinet Masr and Waheej Real Estate have launched Citydom, a 50/50 jointly owned real estate venture. The new entity intends to acquire land in Al-Janadriyah for developing an integrated residential project. The collaboration brings together Madinet Masr's extensive experience in urban housing development and Waheej's background in residential and mixed-use projects. Citydom is positioned to combine the expertise and resources of both companies to deliver modern living spaces while capitalizing on growth opportunities in the region's real estate market.
Madinet Masr for Housing and Development SAE and Waheej Real Estate have jointly launched a new real estate entity named Citydom. The venture is structured as a 50/50 partnership between the two companies. Advertisement
Citydom plans to explore the acquisition of a land plot in Al-Janadriyah, which will be developed into an integrated residential project. The initiative reflects both companies' intent to expand their footprint in the residential property market and tap into new development opportunities.
Madinet Masr has a long history of urban development projects, focusing on housing and community planning. Waheej Real Estate has also been active in the market, contributing to various residential and mixed-use developments in the region. Together, the two firms aim to leverage their expertise and resources to deliver a comprehensive residential offering through Citydom.
The creation of Citydom marks a strategic collaboration, allowing both companies to combine their strengths and explore new growth prospects in the real estate sector. The Al-Janadriyah project is expected to provide modern living solutions while aligning with broader urban development goals in the area.
Source Reuters
5th Jun, 2025
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