Press Release

MNHD Announces SARAI Reservations Surpass EGP 1 bn

Madinet Nasr Housing & Development (EGX: MNHD.CA, “MNHD”), Egypt’s leading urban developer, launched its new project, SARAI, on 5 November 2016. On the launch day, the company reserved all of the launched units in Phase 1 (EGP 815mn). Today, MNHD is announcing that SARAI reservations have now, in this short time since launch, surpassed the EGP 1bn mark to reach a total of EGP 1.06 bn. Eng. Ahmed El Hitamy, CEO of MNHD, commented: “We are truly pleased with the strong response to our SARAI project indicated by reservations in excess of EGP 1bn within days of the launch. SARAI offers the young demographic in Egypt that is supporting increasing real estate demand a unique residential experience in a mixed-use community featuring commercial, retail and leisure ventures.”