Cairo – Mubasher: Madinet Nasr Housing and Development on Tuesday announced that it has sold a land lot at a value of EGP 50 million in an auction.
The plot of land, located in El Waha area, was dedicated for commercial, administrative, and healthcare purposes, the company said in a filing to the Egyptian Exchange (EGX).
The Egyptian real estate firm has not signed the contract with the buyer yet until it finalises all the contracting regulations, according to the filing.
Madinet Nasr Housing’s capital amounts to EGP 997.1 million distributed over 997.1 million shares at a par value of EGP 1 per share.
