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MNHD eyes EGP 12bn investments in 3 yrs

MNHD eyes EGP 12bn investments in 3 yrs
MNHD aims to generate EGP 7.5 billion in sales and reservations
Madinet Masr
MASR
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Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced plans to inject EGP 12 billion worth of investments during the coming three years.

The planned investments include EGP 7 billion in Sarai Project and EGP 5 billion in Taj City Project, according to a bourse statement on Monday.

In addition, MNHD aims to generate EGP 7.5 billion in sales and reservations during 2020, including EGP 3.8 billion from Sarai Project and EGP 3.7 billion from Taj City Project.

For the full-year 2019, the real estate developer reported net profits of EGP 1 billion, down from EGP 1.1 billion in the previous year.

The company’s revenues stood at EGP 2.2 billion last year, compared to EGP 2.78 billion in 2018.