Cairo - Mubasher: National Real Estate Bank for Development said it signed a contract worth of EGP 100 million with Madinet Nasr Housing.

Through the agreement, National Real Estate will establish 32 residential unit over two phases in Sixth of October city, said Hani Sharkawy, investors relation manager.

The first phase will be composed of 20 units with total value of EGP 67 million.

National Real Estate Bank reported net profits of EGP 2 million in the first half of 2015, a decline 64% y-o-y.