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Madinet Masr Housing and Development, the Egyptian real estate firm led by Abdallah Sallam, has received regulatory clearance for its SAFE fund, a fractional real estate ownership platform that has already recorded $370 million in transactions and attracted more than 70,000 users since its launch in December 2024.
The Financial Regulatory Authority (FRA) approved the establishment of the SAFE Real Estate Fund and SAFE for Securities Promotion, Underwriting, and Real Estate Investment Fund Management. The decision makes SAFE one of the first accredited players under Egypt’s new rules for fractional property ownership.
Growing interest in fractional ownership
Created by Minka Development under Madinet Masr Innovation Labs, SAFE—short for Secure Assets for Fixed Earnings—allows investors to buy in from EGP 50,000 ($1,029)per share.
So far, the platform has sold over 7,400 property shares, with more than 2,800 investors already receiving monthly rental returns averaging around 10 percent. Many of these yields are pegged to the U.S. dollar, offering a hedge against local currency swings.
The model is designed to open up access to premium real estate for a wider base of investors while providing steady income streams. For Madinet Masr, it represents a step toward expanding financial inclusion and weaving long-term sustainability into the property sector.
Oversight and investor protection
By approving SAFE, the FRA signaled its intent to bring digital and fractional real estate models into a regulated framework. The move aims to enhance investor safeguards by addressing key issues, including title custody, liquidity, and clear exit routes for shareholders.
SAFE’s approval follows months of review, reflecting regulators’ caution as they balance innovation with the need to prevent the risks that have plagued similar schemes elsewhere in the world.
In H1 2025, the company’s profit fell 11.9 percent to EGP1.28 billion ($26.43 million), held back by cancellations and higher construction costs. Revenue, however, rose 7 percent to EGP4.8 billion ($98.86 million), supported by record sales and an 86 percent increase in deliveries to 521 units.
Madinet Masr’s evolving role
Founded in 1959, Madinet Masr has become one of Egypt’s leading real estate developers, with a landbank of more than 9.5 million square meters and over 20,000 housing units sold. The developer has a reputation for large-scale urban planning, catering to Cairo’s fast-growing population and the country’s rising housing demand.
Under Sallam’s leadership, Madinet Masr has accelerated expansion through new ventures such as MINKA Development, which focuses on innovative housing solutions. Its latest financials underline the company’s direction: total assets climbed 19.3 percent to EGP 33 billion ($681 million), while retained earnings jumped 48.6 percent to EGP 3.85 billion ($79.3 million).
