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|09 January, 2019

Madinet Nasr Housing seals $307mln contracts in 2018

The Egyptian real estate firm has made a record by delivering 788 units in 2018

Buildings In City Against Clear Sky Photo Taken In Cairo, Egypt

Buildings In City Against Clear Sky Photo Taken In Cairo, Egypt

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Cairo –  Madinet NasrHousing and Development (MNHD) on Wednesday announced it has generated EGP 5.5 billion in contracts and reservations in 2018.

The company’s positive performance was mainly driven by Taj City project’s sales of EGP 2.6 billion and Sarai’s sales of EGP 2.3 billion, according to a statement to the Egyptian Exchange (EGX).

The Egyptian real estate firm has made a record by delivering 788 units in 2018, the statement added.

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Madinet Nasr Housing previously reported a 15% year-on-year jump in its profits for the first nine months of 2018.

Net profits amounted to EGP 869.07 million during the period between January and September of this year, compared to EGP 757.14 million in the same period of the prior year.

Sales reached EGP 792.8 million in the nine-month period ended September, from EGP 555.36 million in the same period of the previous year.

Source: Mubasher

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