MNHD signs agreement with DMC to develop Lake Park at a cost of EGP 350m
The partnership entails the full construction of 13 buildings at Lake Park – Taj City
Latest in Tag: MNHD Highlight
Latest in Tag: MNHD
MNHD signs agreement with Asten College to open first international school in Taj City
Asten College is a project of the Balanced Education Company (BalancED) that follows the British Education System (IGCSE) and is one of the first schools to implement the digital transformation concept in education through a partnership with Microsoft Egypt.
MNHD intends to deliver 1,500 units by year-end
Company plans to direct EGP 3bn to construction works in 2022, says CEO Abdallah Sallam
MNHD signs MoU with Al-Hazek Construction to execute construction works worth EGP 1.5bn
The MoU includes the construction of some buildings in the Shalya project in Taj City
MNHD’s general assembly rejects UAE’s Al-Dar’s offer
MNHD’s Board of Directors decided earlier to reject the offer submitted by Al-Dar through its subsidiary SODIC to acquire up to 100% of its shares at a maximum price of EGP 3.4 per share.
MNHD reports EGP 1.79bn revenues in 1H 2022
MNHD saw revenues of EGP 972.3m in the second quarter (2Q) of 2022, an increase of 120.3% y-o-y.
Abu Dhabi-based Aldar to consider increasing acquisition bid for MNHD
If price is revised, MNHD may conduct due diligence
SODIC submits non-binding offer for the acquisition of up to 100% of MNHD
Headquartered in Cairo and listed on the Egyptian Exchange (EGX), MNHD is an established real estate company that has been operating since 1959. MNHD’s operational focus is in the eastern Cairo area, where its two flagship projects — Taj City and Sarai — are located with a sizeable land bank for expansion opportunities.
MNHD reports EGP 271.5m in gross profit during 1Q 2022, growing 12.4% y-o-y
Company delivers total of 361 units during 1Q 2022
MNHD plans capital increase to fund acquisition, development projects
Around half of the EGP 374.4m amount is earmarked for the acquisition of MINKA and EgyCan, and the other half is earmarked for the West Assiut project and other company developments.
First securitisation bonds issuance for MNHD worth EGP 300m completed: EFG Hermes
It is part of 3-year bond issuance programme worth EGP 3bn
MNHD reports 39.6% sales drop in 9M 2021
Company’s revenue down 4.3% y/y to EGP 428.4m in 3Q 2021
MNHD appoints Abdallah Sallam as new CEO
Company to acquire MINKA Developments
MNHD injects additional investments of EGP 486m in 2 mega projects during Q2 of 2021
MNHD’s investments in infrastructure, construction works amount to EGP 1.18bn in H1 of 2021
Madinet Nasr for Development reports net profit of EGP 115m for Q1 2021
MNHD has more than 10,000 units under development across eight key projects in Greater Cairo
Majid Al Futtaim, Mountain View, MNHD obtain tender booklet for Heliopark project
Heliopolis Housing and Development Company negotiates with three banks to obtain financing amounting to EGP 671m
Madinet Nasr Housing and Development records net profits of EGP 1.1bn in 2020
Company plans to distribute EGP 648m cash dividends for second consecutive year
EGYGAB Developments purchases 83k-sqm land from MNHD
MNHD continued delivery of outstanding operational performance and financial results, says CEO
MNHD eyes medium, long-term expansion to different areas
Company is particularly interested in Egypt’s North Coast region
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
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.