By: Abdullah Bedeir
Cairo – Mubasher: Madinet Nasr Housing and Development’s (MNHD) contractual sales reached a range between EGP 4.5 billion and EGP 4.6 billion during the first 10 months of the fiscal year 2019, the company’s managing director Ahmed El Hitamy stated on Tuesday.
The company’s sales in October equals its average sales in a typical quarter, El Hitamy added in a press conference held in Cairo.
MNHD’s sales generated from the company’s Sarai, Taj City, and Nasr Gardens projects, the top official revealed.
It is worth mentioning that MNHD’s standalone financial statements showed a 24.9% year-on-year decline in net profit during the first nine months of 2019. The company’s net profit went down to EGP 613.28 million.
