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.
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Company’s consolidated revenues record EGP 1.3bn in June 2020
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 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.
Presales driven by strong demand for residential units in SARAI, and sale of residential plot in Taj City
Company aims for EGP 3bn in revenues in 2020, says Al-Hatimi
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.
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.
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.
Naeem research recommends buy with target price EGP 7.17 per share
Company considers launching new phase of Taj City, says Salah Katamesh
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.
Company targets 20%increase in sales 2020, says general manager
Naeem maintains BUY reccomendation for MNHD with TP of EGP 8.59/share
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.
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 …
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 …
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 …
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 …
Company delivered 788 units, keeping its promise to deliver units on time: El Hitamy
Company’s solid top-line growth is result of number of encouraging forces coming together, says CEO
An additional 17% to remaining built up area in Taj City
Company developed 1.2m sqm of its total land bank, says El Hitamy
Company aims to achieve sales from EGP 5.5-6bn in 2018, says CEO
New entity’s aggregate contracted sales will likely cross EGP 14bn mark, says Beltone Financial
Taj City, Sarai serve as a boost to company pre-sales book
Contract sales reached EGP 3.64bn YTD
Company reported consolidated revenues of EGP 751.7m, up 263% y-o-y
The registration of certificates of deposit in London Stock Exchange will be completed within 6 weeks
Unit inventory worth EGP 1.8bn sold out