On 5th anniversary of his death, DNE celebrates the life and career of Omar Sharif    Libya's NOC lifts force majeure, says output will be low for now    UEFA Champions League quarter-final and semi-final draw    Egypt's Sisi urges unceasing efforts to face economic challenges of COVID-19    Olympic trials to be China's only international sport event this year    Post-Trump era a possibility, Europeans see no quick fix to US ties    Japan nightclub 'hotspots' must follow coronavirus rules to stop spread: Government    Scenes from hell: 1995 Srebrenica genocide    No agreement so far on GERD technical, legal points: Egypt    GERD talks find no breakthrough for 7th straight day    Al-Mashat signs 6 grant agreement worth $90m with USAID    Tehran denies US seizure of Iranian arms on way to Houthis in Yemen    Ethiopia's Nile Dam: Myths and Facts    Egypt partners with IFIs on 13 agricultural projects valued at $545.42m: Al-Mashat    Egypt's annual urban inflation rises to 5.6% in June: CAPMAS    FIFA wants uniform global use of VAR, says refs chief Collina    Turkish verdict paving way for Hagia Sophia mosque expected Friday : Officials    COVID-19 pandemic in Africa is now reaching 'full speed'    Google shuts down cloud project, says no plan to offer cloud services in China    Iran's coronavirus cases exceed 250,000, says Health Ministry    Misr Emirates Takaful Life Insurance's premiums rise 40% in FY2020    U.S. stock indexes held steady after Nasdaq clinches new record    EU stocks cautiously higher as economic recovery hopes take hold    Egypt won't accept any formulations that disregard its concerns over Ethiopia's Dam: Irrigation ministry    Egypt records 1,025 new coronavirus cases, 75 deaths on Wednesday    Egypt's Mohamed Salah double keeps Liverpool on track for points record    Facebook takes down accounts, pages of U.S. President Trump's Roger Stone    Egypt repeats call for UN-guided ceasefire in Libya: Shoukry    Healthcare professionals conduct 80% of FGM in Egypt: UNFPA    Egypt keeps domestic fuel prices unchanged    Women's rights activists say silence of sexual assault victims remains main challenge    Egypt Environment Ministry, JICA cooperate to remove single-use plastic bags    Russia offers technical assistance to 3 countries in Ethiopian Dam negotiations    Senate vote in August    1,057 new coronavirus cases in Egypt Tuesday – health ministry    Swvl reveals security breach, but bank details safe    Culture Ministry to document architectural heritage of Egypt    The Day They Killed Singing play atTaliaa Theatre is a must go    A song for the Nile    Like father, like son: Ahmed Khaled Saleh acting star in the making    Farwell to 74-year old Egyptian military production minister El-Assar    U.S. President Trump slams Washington Redskins as team re-evaluates name    Egypt reopens 5 museums, 8 archaeological sites and operates 171 international, domestic flights    Egypt's Zamalek to continue training Thursday, but domestic league participation unclear    Federation of Egyptian Banks denies funding GERD: eletreby    Egypt to host World Handball Championship on time despite COVID-19: EHF President    Egypt's parliament Oks amendments to House law amid differences over election    CAF draws timeline for resumed continental championships amid COVID-19    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





MNHD to establish housing projects in the Delta in 2018: El Hitamy
First phase of Sarai project to be launched in the last quarter of 2016
Published in Daily News Egypt on 17 - 08 - 2016

Madinet Nasr Housing & Development (MNHD) aims to establish housing projects across governorates of Egypt, especially in the Delta, in 2018. The company also aims to increase its real estate land portfolio by acquiring new land throughout the current year.
MNHD general manager, Ahmed El Hitamy, said that the company aims to increase its sales after restructuring the sales department and opening a third sales branch this year.
The first phase of the company's underway project Sarai is set to be delivered in the last quarter of 2016, he said, adding that the second phase will begin in the second quarter of 2017.
Sarai is a major project on an area of 5.5m sqm. Infrastructure of the project will cost EGP 2bn, according to El Hitamy.
He told Daily News Egypt that the company is seeking the approval of concerned authorities to amend the height of Sarai buildings to 21 metres instead of 15-18 metres, which would raise the value of the project's land and make better use of it.
As for the company's sales, El Hitamy said that the rise in sales resulted from the restructuring of the sales department, with support of indirect sales. He noted that MNHD is contracted with five real estate marketing companies.
Direct sales, however, is still active. El Hitamy said that the company has two sales branches, with a third coming before the end of the year.
El Hitamy said that the company aims to deliver 500 units in 2016. Those units cost EGP 500m to EGP 750m, with an average of EGP 1m to 1.5m per unit.
With regards to lands, the company aims to increase its real estate land portfolio, which currently stands at 9.5m sqm in Cairo and other governorates.
Moreover, the company plans to focus on the middle class in its coming projects in governorates, especially in the Delta region. The company is set to acquire new lands in 2017 and begin construction in 2018, he added.
As for standing projects, El Hitamy said that 25% of the T Zone project has been sold already. The targeted sales of the project are estimated at EGP 3.5bn to EGP 4bn. He noted that the company will inject further investments worth EGP 1bn in 2016.
MNHD has a number of real estate projects, such as Tigan, Al Waha, and Nasr Gardens.
The company's paid-up issued capital stands at EGP 375m, divided across 375m shares with a nominal value of EGP 1 each. The shares are traded on the Egyptian Exchange at EGP 14.4.


Clic here to read the story from its source.