The partnership entails the full construction of 13 buildings at Lake Park – Taj City
Latest in Tag: MNHD Highlight
Latest in Tag: MNHD
Asten College is a project of the Balanced Education Company (BalancED) that follows the British Education System (IGCSE) and is one of the first schools to implement the digital transformation concept in education through a partnership with Microsoft Egypt.
Company plans to direct EGP 3bn to construction works in 2022, says CEO Abdallah Sallam
The MoU includes the construction of some buildings in the Shalya project in Taj City
MNHD’s Board of Directors decided earlier to reject the offer submitted by Al-Dar through its subsidiary SODIC to acquire up to 100% of its shares at a maximum price of EGP 3.4 per share.
MNHD saw revenues of EGP 972.3m in the second quarter (2Q) of 2022, an increase of 120.3% y-o-y.
If price is revised, MNHD may conduct due diligence
Headquartered in Cairo and listed on the Egyptian Exchange (EGX), MNHD is an established real estate company that has been operating since 1959. MNHD’s operational focus is in the eastern Cairo area, where its two flagship projects — Taj City and Sarai — are located with a sizeable land bank for expansion opportunities.
Company delivers total of 361 units during 1Q 2022
Around half of the EGP 374.4m amount is earmarked for the acquisition of MINKA and EgyCan, and the other half is earmarked for the West Assiut project and other company developments.
It is part of 3-year bond issuance programme worth EGP 3bn
Company’s revenue down 4.3% y/y to EGP 428.4m in 3Q 2021
Company to acquire MINKA Developments
MNHD’s investments in infrastructure, construction works amount to EGP 1.18bn in H1 of 2021
MNHD has more than 10,000 units under development across eight key projects in Greater Cairo
Heliopolis Housing and Development Company negotiates with three banks to obtain financing amounting to EGP 671m
Company plans to distribute EGP 648m cash dividends for second consecutive year
MNHD continued delivery of outstanding operational performance and financial results, says CEO
Company is particularly interested in Egypt’s North Coast region
Company plans to securitise receivables of 3,000 units expected to be delivered by 2H 2021
Company plans to complete constructing of 3,000 units by end of 2021, says CEO
Company reports consolidated revenues of EGP 1.8bn
The agreement, worth a total of EGP 1bn, will see CIB act as the Mandated Lead Arranger, Book Runner and Facility Agent. They will do so alongside other lending banks, namely the Arab Investment Bank (AIB), Egyptian Gulf Bank (EG Bank) and United Bank.
Company’s consolidated revenues record EGP 1.3bn in June 2020
The contract, which had been accepted by MNHD’s Board of Directors, had approved Total Egypt’s offer at a meeting in November 2019. The contract concerns an area of land on the El Amal Road, which serves as the main access route from the Suez-Administrative Capital Road.
MNHD reported pre-sales in SARAI of EGP 2bn, with pre-sales in Taj City reaching EGP 363m, and EGP 226m in Tag Sultan. The company also reported pre-sales of EGP 1.14bn in its other projects.
Presales driven by strong demand for residential units in SARAI, and sale of residential plot in Taj City
Company aims for EGP 3bn in revenues in 2020, says Al-Hatimi
MNHD sees promising investment opportunities in Upper Egypt, and plans to diversify its project portfolio. The company already has about 9m sqm, and has developed only 3m sqm of it, he added. The existence of major developers in these areas have been accelerating development and boosting investment.
MNHD signed a contract to sell 114,540 sqm of land within the Taj City project in New Cairo City at EGP1.145bn to Minka Investment.