Cairo – Mubasher: Madinet Nasr Housing and Development Company announced on Tuesday that all residential units of the first phase of the Taj City project have been sold before the end of the first quarter of fiscal 2016 for EGP 310 million.

Phase one booking was opened in December 2015, according to a bourse filing.

The company added that it has launched the second phase of the project during this month.

Madinet Nasr Housing earlier posted a net profit of EGP 201.4 million for Q1-16, versus EGP 83.3 million in Q1-15.