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.
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Company considers launching new phase of Taj City, says Salah Katamesh
Despite the strategic postponement of new launches in Taj City to the third quarter of 2019 ( already launched), MNHD recorded consolidated net profit of EGP 511m in 1H 2019 compared to EGP 588m a year earlier.
Madinet Nasr Housing and Development (MNHD), a leading Egyptian urban developer, announced on Sunday that its pre-sales (contracted sales plus reservations) for the the first quarter (Q1) of 2019 reached EGP 1.72bn, up 9% year-over-year. According to the company’s press statement, pre-sales were mainly driven by the demand of the residential units as well as …
An additional 17% to remaining built up area in Taj City
Madinet Nasr Housing & Development (MNHD), Egypt’s leading urban developer, announced on Monday the Prime Minister’s approval of Tai City master plan. The master plan approval will allow MNHD to finally market and launch non-residential components, like the commercial zone and the hotel area, that will not only serve residents of Taj City, but the …
New developments and increased contracted sales drive profitability into 2019