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Tuesday, 8 November 2016

MNHD sells out Sarai phase one, says 10M2016 contracted sales surge to EGP 2.4 bn.

MNHD sells out Sarai phase one, says 10M2016 contracted sales surge to EGP 2.4 bn. Madinet Nasr Housing and Development sold-out its 463 unit first phase of its Sarai project on launch day, the company said in a statement yesterday (pdf), and now aims to finalize contracts with c. EGP 815 mn over the course of the month. Sarai is a 5.5 mn square meter mixed-use development in Cairo near the new administrative capital designed by the same firm behind Yas Island in Abu Dhabi. The company’s disclosure also notes that EGP 450 mn in contracted sales from its Taj City project brought its 10M2016 sales book to EGP 2.4 bn. That figure excludes Sarai sales booked earlier this week.

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