The company said in a statement on Sunday that gross profit amounted to EGP 1.7 billion, a 30.9% year-on-year decrease due to lower revenues and higher operating costs. This led to a decline in the gross profit margin to 65.2%, compared to 78.6% in the same period last year.
It added that contracted sales from January to March amounted to EGP 11.5 billion, a 22.9% year-on-year decrease. It noted that this decline follows exceptional performance during the same period last year, which saw increased demand for real estate as a safe haven amid economic instability.
Madinet Masr's consolidated revenues reached EGP 2.6 billion during the first quarter of 2025, a 16.7% year-on-year decrease. This decline was primarily due to a 23.4% decline in new sales revenue.
The company noted that 1,013 units were delivered during the first quarter of 2025, compared to 140 units during the same period last year, representing a significant year-on-year growth of 623.6%.
Madinet Masr allocated approximately EGP 1.5 billion to construction and infrastructure work on existing projects, compared to EGP 1.1 billion during the same period last year, reflecting a 44.5% year-on-year increase.