Cairo – Mubasher: Madinet Nasr Housing and Development on Thursday said it has recorded contracts and reservations valued at EGP 1.58 billion during the first quarter of 2018.
The real estate developer attributed the strong performance to its Lake Park project’s contracts. The development was launched last month in Taj city, Madinet Nasr Housing said in a filing to the Egyptian Exchange (EGX).
The total value of Taj City’s contracts stood at around EGP 1.19 billion in Q1-18, while Sarai New Cairo’s contracts amounted to EGP 311 million, the company revealed.
Madinet Nasr Housing had previously reported a 21% year-on-year growth in consolidated profits for the full-year 2017 to EGP 933.05 million, up from EGP 768.9 million in 2016, including minority shareholders’ rights.
