MNHD intends to deliver 1,500 units by year-end in Egypt

MNHD intends to deliver 1,500 units by year-end in Egypt

Madinet Nasr for Housing and Development (MNHD) has completed the delivery of approximately 832 units during the first half of this year, as part of its plan to complete between 1,500 – 2,000 units by the end of 2022, up from 1,090 units delivered last year, according to CEO of MNHD Abdallah Sallam.

Sallam told Daily News Egypt that the company focuses its efforts on raising construction and delivery rates of its projects, noting that MNHD has succeeded in achieving around EGP 3.3bn in contracted sales during the first half of this year.

He attributed this exceptional performance to the launch of Tag Ville and Elect projects, in addition to sales of ready-to-move units in Croons and Taval projects within Sarai City. The company succeeded in achieving this value from reservations in July, despite the seasonal slowdown of the real estate market in East Cairo during the summer period.

He revealed that the company hiked its unit prices by 5-7% since the beginning of the year. He added that the company has reconsidered the cost of the projects planned to be launched during the coming period, taking into account price changes that resulted from the high cost of constructions due to high prices