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MNHD logs EGP 6.3bn contractual sales in 2019

MNHD logs EGP 6.3bn contractual sales in 2019
MNHD is developing over 10,000 real estate units at the moment
Madinet Masr
MASR
-1.08% 3.67 -0.04

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) reported contracts and sales bookings worth EGP 6.3 billion during 2019, higher by 15% when compared to EGP 5.49 billion in 2018.

This rise is attributed to the demand for the company’s diversified real estate offerings and residential projects, according to a bourse filing on Thursday.

Currently, the firm is developing more than 10,000 real estate units through its five major projects in Cairo. 

It is worth noting that during the first nine-month of 2019, the company reported consolidated net profits worth EGP 630.98 million when compared to EGP 869.07 million a year earlier.