Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced that its pre-sales (contracted sales and reservations) for the first half (H1) of 2020 registered EGP 3.78 billion, up by 83% year-on-year (YoY) from EGP 2.06 billion.

The surge in pre-sales was encouraged by the robust demand in SARAI and the land plot sold in the first quarter (Q1) of 2020 for EGP 1.15 billion, according to a bourse disclosure on Wednesday.

It is worth mentioning that during Q1-20, MNHD reported net profits of EGP 380 million, up from EGP 332.3 million in Q1-19.