Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) on Sunday announced that the volume of its contractual sales and bookings increased by 9% year-on-year during the first quarter of 2019.
The Egyptian real estate developer has recorded contractual sales of EGP 1.72 billion in the three-month period ended last March, versus EGP 1.58 billion in Q1-18, according to a statement.
Moreover, MNHD reported it logged EGP 595 million in sales from Taj City’s contracts and bookings, while it generated sales of EGP 634 million and EGP 52 million from Sarai and Taj Sultan operations, respectively.
Furthermore, Cobalt Business District’s sales contracts and bookings amounted to around EGP 406 million, the Cairo-based firm added.
MNHD last reported that its 2018 consolidated profits had surpassed EGP 1 billion for the first time.
The property developer logged an EGP 1.11 billion in net profits during the full-year ended 31 December 2018, compared to EGP 933 million in 2017.
Sales increased to EGP 2.7 billion last year, up from EGP 2.42 billion a year earlier.
