Egypt-based developer Madinet Nasr for Housing & Development (MNHD) announced on Thursday that has rebranded to Madinet Masr, in line with the Company’s redefined growth-driven strategy to expand nationally and regionally.

The EGX-listed firm said in a statement that the decision to rebrand to Madinet Masr reflects the Company’s vision to take its success to a much larger scale.

Company President and CEO Abdallah Sallam said: “Our new slogan ‘Proudly Building for Egypt’ reflects Madinet Masr’s growth from developing one district in 1959 to building all-inclusive communities on a national scale. The next phase of growth will see us expand geographically, diversify our portfolio and strengthen our value proposition.”

Sallam told Zawya Projects that the company is on track to launch a new project in Assiut this year. He said the project, spread over an area of half a million square metres, is expected to achieve sales of one billion Egyptian pounds in the first phase."

He also added that the company has two projects under construction in eastern Cairo.

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)