Cairo – Mubasher: Madinet Nasr Housing and Development’s (MNHD) contracts and reservations surged by 46% in 2017 due to sales of ‘Taj City’ and ‘SARAI’.

Egypt’s leading urban developer’s contracts and reservations stood at EGP 5.03 billion in 2017, up from EGP 3.5 billion in 2016.

The real estate company attributed the increase in contracts to achieve EGP 1.9 billion sales from Taj City project, in addition to total sales of EGP 3.1 billion from SARAI project.

MNHD is currently developing five main projects in Cairo that include more than 10,000 different residential units.

The company’s capital amounts to EGP 997.1 million distributed over 997.1 million shares at a par value of EGP 1 per share.