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Egypt’s Madinet Nasr contracts, reservations recorded EGP 6.3B in 2019

Egypt’s Madinet Nasr contracts, reservations recorded EGP 6.3B in 2019

Cairo:  Egypt’s state-owned Madinet Nasr for Housing and Development pre-sales (contracts and reservations) for the year 2019 reached record 6.3 billion Egyptian pounds compared to 5.5bn pounds in 2018.

The company reported that 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.

The company’s pre-sale for Taj City project reached 1.257 billion pounds in 2019, compared to EGP 2.575bn pounds in 2018, besides, recording 3.045bn pounds in pre-sales in 2019 of its project Sarai compared to 2.325bn pounds in 2018.

MNHD’s Chief Executive Officer Ahmed El Hitamy said: “We are extremely happy to achieve yet another record breaking year in terms of pre-sales for the company.”

El Hitamy added that 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, he elaborated. Source: Daily news Egypt

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