Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) on Sunday announced it is considering the securitisation of the first phase of Taj City and Taj Sultan.
The idea is still under study as the securitisation is deemed as a good source of financing and it costs lower than the bank financing, MNHD said in a filing to the Egyptian Exchange (EGX).
As for the mutual coordination between MNHD and Sixth of October for Development and Investment (SODIC), the company indicated that a final report to set the optimum choices for both firms has not completed yet, upon which they will announce their partnership.
In a related note, MNHD noted that it aims to deliver around 1,300 units this year, pointing out it has sold over 1,000 units, including 5,200 units in Taj City, 390 in Primera, and 100 units in 6 October.
