MNHD reports 520% increase in contracted sales in August

• Published date: 04 September 2016
• Publication title: Daily News Egypt

Madinet Nasr Housing and Development (MNHD) announced it has achieved contracted sales worth EGP 519m in August, an increase of 520% compared to the same period in 2015.

In a Sunday press statement, MNHD said that this amount is considered the strongest recorded sales for a single month in the company's history.

'Sales performance has particularly improved during the month of August, showing a year-on-year (y-o-y) growth of almost 520% to EGP 519.1m, compared to EGP 83.7m in August 2015,' the statement read.

The statement continued by adding that it has contracted sales figures for the eight-month period ending 31 August that show an impressive growth of 221% y-o-y worth EGP 1.41bn.

The company's contracted sales for Tag Sultan and Taj City amounted to EGP 1.08bn year to date (YTD) 2016, compared to EGP 234.4m in YTD 2015, while achieving EGP 735.9m from July to August in 2016, compared to EGP 77.2m from July to August in 2015.

The Waha and Primera projects' contracted sales reached EGP 1.7m in the July-August period, compared to EGP...