The value of Madinet Nasr for Housing & Development’s (MNHD) contracts has increased to record EGP 3.8 bn, compared to the 2015 contracts which recorded EGP 876 mn, Al Borsa reported.

The growth in contracts came as a result of the sales from the Taj City project, which amounted EGP 2.1 bn, as well as the Sarai project, which registered sales of EGP 1 bn since its launch, according to the company’s Managing Director Ahmed Al Hetemy.

The company is currently preparing five new projects in Cairo, which will include over 8,000 residential units, alongside the new phases of the current projects that are expected to launch in February and March of next year, added Al Hetemy, according to El Bayan.