MNHD targets EGP 6bn in annual sales during 2020
Company plans to securitise receivables of 3,000 units expected to be delivered by 2H 2021
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MNHD to introduce new development project in Assiut by H1 of 2021
Company plans to complete constructing of 3,000 units by end of 2021, says CEO
MNHD records 22% increase in consolidated revenues during 9M 2020
Company reports consolidated revenues of EGP 1.8bn
MNHD, CIB sign 7-year syndicated long term agreement
The agreement, worth a total of EGP 1bn, will see CIB act as the Mandated Lead Arranger, Book Runner and Facility Agent. They will do so alongside other lending banks, namely the Arab Investment Bank (AIB), Egyptian Gulf Bank (EG Bank) and United Bank.
MNHD reports 83% presales increase in H1 of 2020
Company’s consolidated revenues record EGP 1.3bn in June 2020
MNHD, Total Egypt sign 25-year land rental agreement in Sarai compound
The contract, which had been accepted by MNHD’s Board of Directors, had approved Total Egypt’s offer at a meeting in November 2019. The contract concerns an area of land on the El Amal Road, which serves as the main access route from the Suez-Administrative Capital Road.
MNHD reports robust 83% y-o-y increase in pre-sales for H1 of 2020
MNHD reported pre-sales in SARAI of EGP 2bn, with pre-sales in Taj City reaching EGP 363m, and EGP 226m in Tag Sultan. The company also reported pre-sales of EGP 1.14bn in its other projects.
MNHD 1Q net profit up 15% to EGP 378m following solid top-line growth
Presales driven by strong demand for residential units in SARAI, and sale of residential plot in Taj City
MNHD, NBE, Banque Misr, AAIB sign loan contract worth EGP 2.1bn
Company aims for EGP 3bn in revenues in 2020, says Al-Hatimi
MNHD to start marketing its mixed-use developments in West Assiut this year
MNHD sees promising investment opportunities in Upper Egypt, and plans to diversify its project portfolio. The company already has about 9m sqm, and has developed only 3m sqm of it, he added. The existence of major developers in these areas have been accelerating development and boosting investment.
Minka unveils new 115,000sqm project within MNHD’s Taj City
MNHD signed a contract to sell 114,540 sqm of land within the Taj City project in New Cairo City at EGP1.145bn to Minka Investment.
MNHD eyes EGP 7.5bn worth contractual sales in 2020
For the aim of diversifying its land bank, MNHD has acquired a plot of land of 104 feddan in Nasser city, West Assiut, for mixed-use development.
MNHD Prices 115k sqm land sale in Taj City, implies huge upside for land NAV
Naeem research recommends buy with target price EGP 7.17 per share
MNHD, Land Projects Agency agree to exchange lands to expand Taj City
Company considers launching new phase of Taj City, says Salah Katamesh
MNHD’s contracts, reservations recorded EGP 6.3bn in 2019
Egypt’s developer Madinet Nasr Housing and Development (MNHD) announced on Thursday that its pre-sales (contracts and reservations) for the year 2019 reached a record EGP 6.3bn compared to EGP 5.5bn in 2018.
MNHD achieves EGP 4.6bn sales in 10M 2019
Company targets 20%increase in sales 2020, says general manager
MNHD, AAIB sign EGP 300m loan agreement to finance Sarai project
Naeem maintains BUY reccomendation for MNHD with TP of EGP 8.59/share
MNHD revenues record EGP 1.089bn in 1H 2019
Despite the strategic postponement of new launches in Taj City to the third quarter of 2019 ( already launched), MNHD recorded consolidated net profit of EGP 511m in 1H 2019 compared to EGP 588m a year earlier.
MNHD records EGP 634.2m in consolidated revenues in Q1
Madinet Nasr Housing and Development (MNHD), an urban developer in Egypt, recorded consolidated revenues of EGP 634.2m in the first quarter (Q1) of 2019, up 3.8% year-over-year (y-o-y) from the EGP 610.8m recorded during Q1 of 2018. MNHD announced on Thursday its results for Q1 ending 31 March 2019, reporting that consolidated net profits for …
MNHD reports EGP 1.72bn in pre-sales for Q1 2019, launches office park
Madinet Nasr Housing and Development (MNHD), a leading Egyptian urban developer, announced on Sunday that its pre-sales (contracted sales plus reservations) for the the first quarter (Q1) of 2019 reached EGP 1.72bn, up 9% year-over-year. According to the company’s press statement, pre-sales were mainly driven by the demand of the residential units as well as …
MNHD approves selling non-residential land plot for EGP 55,000 per sqm
Madinet Nasr for Housing and Development (MNHD) announced on Tuesday its approval to sell a 3,360 sqm land plot for a total of EGP 184,800,000, for EGP 55,000 per sqm to Minka Investment (MI). MNHD, one of Egypt’s leading urban developers, said that the board of directors of the company, during their meeting held on …
MNHD achieves 14.6% Y-o-Y growth in consolidated revenues in 2018
Madinet Nasr Housing and Development (MNHD), an urban developer in Egypt, has achieved consolidated revenues of EGP 2.78bn, representing year-over-year (Y-o-Y) growth of 14.6% in 2018, compared to EGP 2.43bn at the end of 2017, according to the company’s press statement regarding financial results for the year ending 31 December 2018. The statement said that …
MNHD achieves pre-sales of EGP 5.5bn in 2018
Company delivered 788 units, keeping its promise to deliver units on time: El Hitamy
MNHD revenues increase by 20.4% to record EGP 2.05bn for 9 months of 2018
Company’s solid top-line growth is result of number of encouraging forces coming together, says CEO
MNHD receives approval of additional heights in Taj City project
An additional 17% to remaining built up area in Taj City
MNHD to complete marketing Shalya Taj City project by end-2019
Company developed 1.2m sqm of its total land bank, says El Hitamy
MNHD studies obtaining EGP 1bn loan to fund Sarai project
Company aims to achieve sales from EGP 5.5-6bn in 2018, says CEO
MNHD targets merger with or acquisition of SODIC
New entity’s aggregate contracted sales will likely cross EGP 14bn mark, says Beltone Financial
Madinet Nasr Housing contracts, reservations surge 46% in 2017
Taj City, Sarai serve as a boost to company pre-sales book
MNHD achieves 13% y-o-y growth in contract sales in Q3 2017 to reach EGP 1.24bn
Contract sales reached EGP 3.64bn YTD