MNHD awarded fastest growing real estate company in Egypt 2022

MNHD awarded fastest growing real estate company in Egypt 2022

- The company’s outstanding results nominated it for the prestigious international award, which was judged by a high-level panel of experts

Cairo:– Madinet Nasr for Housing and Development (Egyptian Stock Exchange Code MNHDCA) - one of Egypt’s leading urban community developers – has won the “Fastest Growing Real Estate Company in Egypt 2022” from the International Business Magazine Awards LLC, Dubai, UAE.

The nomination and award-winning process involved a high-level judging panel of experts in each category across different regions (Africa, America, Asia, Europe, and the Middle East) and strict eligibility criteria that MNHD managed to proudly meet after a fierce competition with several companies. The IBM award recognizes achievements in terms of performance, innovation, customer satisfaction, among other categories.

The award comes following MNHD’s whopping standalone financial results, reflecting the nine-month period ending on 30 September 2022. MNHD achieved a record-breaking nine-month gross contracted sales and revenue with net profit more than doubling during the period, along with rapid growth in unit deliveries, as it reported a net profit of EGP 545.0 million on total revenues of EGP 3,001.4 million, as well as a net profit of EGP 308.1 million for the quarter ended 30 September 2022 (Q3 2022), booking a top