Egypt's MNHD to invest $54mln in 2021

The company will inject these investments in the utilities and the infrastructure of the New Heliopolis project

  
Wastewater treatment plant. Image used for illustrative purpose.

Wastewater treatment plant. Image used for illustrative purpose.

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ArabFinance: Madinet Nasr Housing and Development (MNHD) will invest EGP 850 million in 2021, Shorouk cited MNHD managing director Tamer Nasser.

The company will inject these investments in the utilities and the infrastructure of the New Heliopolis project, in addition to some residential projects, Nasser said.

On April 7th, MNHD's ordinary general assembly approved cash dividends to shareholders of EGP 0.45 per share.

On a yearly basis, the company’s consolidated net profit levelled up 2% to EGP 1 billion in 2020.

MNHD is an Egypt-based real estate development company that is engaged in activities related to the development of land, buildings, and facilities, including the acquisition of lands as well as real estate sales and rentals. This is in addition to providing all types of facilities for reconstruction in Nasr City and other areas nationwide.

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