Madinet NasrHousing and Development (MNHD) announced it has generated EGP 5.5 billion in contracts and reservations in 2018.

According to a statement to the Egyptian Exchange, the company’s positive performance was mainly driven by Taj City project’s sales of EGP 2.6 billion and Sarai’s sales of EGP 2.3 billion. The Egyptian real estate firm has made a record by delivering 788 units in 2018.

The company a 15% year on year jump in its profits for the firts nine months of 2018. Net profits amounted to EGP 869.07 million during the period between January and September of this year.

Madinet Nasr for Housing & Development is a public real estate company. It was founded in 1959. The company has been publicly traded on the Egyptian stock exchange since 1995.

Source: Zawya

Fulya Altunyay/[email protected]