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MNHD reports record pre-sales breaking its own record for 4th consecutive year

MNHD reports record pre-sales breaking its own record for 4th consecutive year

ArabFinance: Madinet Nasr Housing & Development (MNHD), Egypt’s leading urban developer, announced today that its pre-sales (contracts + reservations) for the year 2019 reached a record EGP 6.3bn. The 15% increase over last year comes from strong demand on the company’s residential projects as well as the diversified offering of commercial offered in the company’s flagship office park, Cobalt Business District.

Projects (EGP Mn)

2018

2019

Taj City

2,575

1,257

Sarai

2,325

3,045

Tag Sultan

216

495

Primera – sold out

32

1

Cobalt (Office Park) – New

-

923

Land

159

56

Nasr Gardens (Low Income Housing) – New Launch

-

383

SARAI Estates (Gated Land Plots)- New Launch

-

139

Capital Gardens

188

13

Total

5,495

6,313

“We are extremely happy to achieve yet another record breaking year in terms of pre-sales for the company,” said MNHD’s Chief Executive Officer, Ahmed El Hitamy. “MNHD is committed to growth despite any market condition, on the back of its diversified portfolio of projects and offerings in Taj City and SARAI.”

In total, MNHD has more than 10,000 units under development / design at five key projects in the Greater Cairo Area.

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