MNHD achieves 13% y-o-y growth in contract sales in Q3 2017 to reach EGP 1.24bn

Reem Hosam El-din
2 Min Read

Madinet Nasr Housing and Development (MNHD) has recently announced its contract sales figures for the third quarter (Q3) of 2017, where its contract sales managed to grow by 13% to stand at EGP 1.24bn.

On the other hand, year-to-date (YTD) the company’s contract sales reached EGP 3.64bn with 128% growth.

The CEO of MNHD, Ahmed El Hitamy, said the management is pleased with the company’s performance in the aforementioned quarter, adding that the company’s ability to meet its contract sales targets has relied greatly on the rollout of many consecutive launches at both Taj City and SARAI. “I am pleased to report that our performance so far gives me increased confidence in what MNHD will be able to deliver by year-end,” El Hitamy added.

According to a report issued by MNHD, the company is actively working on meeting its unit-delivery schedules for 2017, with total units delivered to clients in Q3 2017, reaching 79 and 226 units year-to-date.

MNHD is a large Egyptian urban development company that has undertaken several major projects, such as the majority of the Nasr City district in Greater Cairo, which covers more than 40 million sqm, in addition to Taj City and SARAI. The company has more than 8,800 units under development in five major projects in Greater Cairo.

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