Madinet Nasr for Housing & Development (MNHD) issued guidance (pdf) noting that its contracted sales for 2016 stood at EGP 3.8 bn, exceeding the budgeted figure of EGP 2.0 bn and coming 4.3x higher than 2015’s figure. The record sales were achieved primarily through the company’s flagship project Taj City, in which sales grew to EGP 2.1 bn in 2016 from 294 mn in 2015 and the launch of SARAI, which saw EGP 1.0 bn in sales during the year.

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