Al-Masri, who is believed to be targeted by Cairo duo Ahli and Zamalek, assured there are no hard feelings between him and his club.
However, he blamed Contractors' board for not tabling a suitable offer for him.
"I rejected the new deal they offered me but that doesn't mean we have issues," Al-Masri told FilGoal.com.
"They offered to increase my annual salary to EGP 750,000 instead of 700,000 and extend my stay for extra three years."
Al-Masri, who has two more years on his contract, has been seeking to leave Contractors for a while but the minnows have been keen to keep hold of him.
"Contractors turned down bids from Ahli, Zamalek and other clubs, a fact that the board didn't consider before coming up with that offer for me," Al-Masri bemoaned.
"But my contract is still valid and I'm fully committed to the club," the 24-year-old added.
Contractors now lie at the bottom of the Egyptian Premier League table as they have gained a single point from four matches.
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Al-Masri rejects Contractors extension