MAD Signs with Belmazad to Prepare and Manage the Tenders for Sphinx Land and Roshdy Building
Misr Abu Dhabi for Real Estate Investments (MAD) has signed contracts with Belmazad, a company specializing in the organization and management of real estate tenders and auctions, to prepare the tender documents and manage the tender processes for Sphinx Land in New Sphinx City and Roshdy Building in Downtown Cairo.
This collaboration will lay the groundwork for selecting suitable investors and development partners for both projects through a structured process built around clear requirements and defined evaluation guidelines.
Signed at Belmazad’s headquarters in the presence of representatives from both companies, the agreement brings together MAD’s asset management objectives and Belmazad’s specialized expertise in tender preparation and competitive bidding.
Their collaboration will support a transparent process in which proposals can be assessed against clearly established technical, financial, and legal criteria, providing prospective partners with a consistent basis for understanding the requirements and submitting their offers.
The two projects present distinct opportunities for investment and development. Sphinx Land covers 165 feddans (approximately 693,000 square meters) in New Sphinx City, located directly across from Sphinx International Airport on the Cairo-Alexandria Desert Road.
MAD will invite developers to submit their proposals for developing the land, with the aim of maximizing its value and generating sustainable long-term returns for the company.
The Roshdy Building is an 18-storey commercial property in a strategic location in Downtown Cairo.
MAD plans to reposition the building, with the aim of making better use of its existing potential and maximizing its real estate value.
Highlighting the importance of preparing both assets for tender, Maged Salah El Din, CEO and Managing Director of Misr Abu Dhabi for Real Estate Investments (MAD), stated: “Our collaboration with Belmazad represents an important step toward preparing comprehensive tender documents for both assets.
Clear requirements and conditions will give potential investors and development partners a better understanding of each opportunity, helping attract serious, comparable proposals and supporting well-informed investment decisions.”
He added that well-prepared tender documents are essential to an organized selection process, setting out development requirements, technical and commercial conditions, and the criteria against which proposals will be evaluated.
Establishing these parameters from the outset will help safeguard MAD’s interests while providing a sound basis for achieving the best possible outcomes from its real estate assets.
From Belmazad’s perspective, the priority is to ensure that the process reflects the specific requirements of each property. Mahmoud Farahat, Co-Founder and CEO of Belmazad, said: “We value MAD’s trust in Belmazad.
Our role is to build a tender process around the specific characteristics of the two asset and to bring each opportunity to the developers, investors, and operators best equipped to deliver it, in Egypt and across the region. Managing registration and access to the tender documents digitally means every participant receives the same information at the same time and is assessed on the same basis.”
Farahat also noted that this preparation involves defining project qualification and evaluation benchmarks, as well as commercial and contractual terms. Such clarity can encourage competition among qualified parties while ensuring that all proposals are assessed on a consistent and transparent basis.
With these preparations, MAD and Belmazad aim to establish a clear framework for bringing Sphinx Land and Roshdy Building to market, taking into account the development objectives and characteristics of each asset.
The approach is intended to attract qualified investors and developers while strengthening the management of MAD’s real estate portfolio and maximizing the value generated from its assets.
This collaboration forms part of MAD’s broader strategy to revitalize underutilized real estate assets and land, drawing on the institutional legacy and longstanding experience of one of Egypt’s most established financial institutions.
Its approach combines active asset management, corporate governance, and strategic partnerships to unlock value and support sustainable, long-term returns across a diversified portfolio spanning residential, commercial, administrative, tourism and hospitality, and healthcare assets.
Among the projects reflecting this strategy is a new hospitality development being planned opposite the Grand Egyptian Museum. Envisioned as an integrated destination, the project will bring together a hotel, retail offerings, restaurants, and cafes. In Ras Sedr, MAD has also successfully reactivated the Blue Bay project, bringing its first phase fully into operation, with owners having moved into their units.
Work is continuing on the renovation and development of the second phase to further strengthen the project’s appeal as a tourism destination.
Registration and access to the tender documents will be managed through Belmazad’s digital tender platform. The tender for Roshdy Building is expected to open by mid-November 2026, with the tender for Sphinx Land to follow.
Details on how to register will be announced on belmazad.com and through MAD’s official channels.
