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FINANCIAL NEWS
Egypt’s Madinet Naser revenues reach EGP578.7mn
16 Nov 2016
(MENAFN) Madinet Nasr Housing and Development, an Egyptian real estate development firm proclaimed that its revenues for Q3 of this year reached EGP578.8mn.
Furthermore, the increase in profits is driven by the increase in contracted sales as well as the revenues from the Capital Gardens project in New Cairo.
Additionally, total contracting of the firm”s projects reached EGP1.5bn, which is an annual growth of 812 percent compared to EGP165mn amid the same period of 2015.
Meanwhile, units of Taj City’s first phase were sold for EGP2.1bn, while the second phase was sold under the name T-Zone for EGP1.6bn.
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