Egyptian media reports suggest that the 35-year-old has become the highest profile player to join an Egyptian team in their history.
Malouda joined Degla, who are owned by ambitious businessman Maged Sami, on a six-month deal last month.
"It's my first time ever in Egypt. I'm really, really excited and I can't wait to play for Wadi Degla," Malouda told the club's official Facebook page.
"What I can promise is to deliver performances and make sure the team will reach high ranks in the table.
”The club is young and we will try to compete with the best teams in Egypt."
The former France international arrived from Indian Super League side Delhi Dynamos who are managed by Brazil legend Roberto Carlos.
He will be hoping to help his team, who lie 14th in the 18-team table, cause an upset against Cairo's fancied side Zamalek who opened the season with an easy 2-0 victory over Degla.
During his five-year stint at with the English Premier League giants, he helped the Londoners win the English Premier League, Champions League and three FA Cup titles between 2007 and 2013.
However, before sealing his move to the Blues, Malouda won four league titles during a four-year spell with French Ligue1 giants, Olympique Lyonnais.
Malouda is now the third foreign player in Degla’s squad, joining Nigerian forward Stanley Ohawuchi and Junior Mapuku of Congo at the Cairo-based club, who made their top-flight debut in the 2009/10 campaign.
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