MNHD Launches New Phases of Taj City, Sarai

MNHD Launches New Phases of Taj City, Sarai

Managing Director and CEO of Madinet Nasr Housing and Development (MNHD) Ahmed Al Hitamy has uncovered the launch of three new phases of New Cairo’s Taj City and Sarai, Invest-Gate reports

The announcement came during the first media tour by MNHD, mainly organized to show the latest updates on the ongoing projects, in the presence of Sherif Shawky, the company’s senior technical director, MNHD’s Financial Director Mohamed Abdel Salam, the Egypt-based developer noted in a recent press release.

Other attendees include Walid Abdel Fattah, senior vice-president and managing director of Hill International (North Africa), who principally attended the event after contracting with MNHD for building the latest phase of Taj City, called “Zone T,” over a surface area of 350,000 square meters. The latest release will include 200 buildings, along with a clubhouse and a community center.

All in all, the total value of Hills’ current contracts with MNHD stands at EGP 4.5 bn, Abdel Fattah highlighted.

For his part, Al Hitamy confirmed, “Through our partnership with Hill International, we would also be building the latest phases of Sarai project, which are Taval and Zone S2,” noting that both phases extend across more than 750,000 square meters and are set to boast around 4,800 residential units.

He added that the developer assigned Engineering Consulting Group (ECG) to supervise the construction of Taval and Zone S2, while contracting with Gama Engineering and Construction Services to carry out the latest engineering and construction works on-site, with investments amounted to EGP 2.4 bn.

This comes together with an agreement with Egypt-based Kharafi National to carry out infrastructure developments of Sarai, valued at nearly EGP 430 mn.

MNHD has also sealed a deal with Moharram Bakhoum to supervise the implementation of Zone T’s construction works, utilities, and facilities, in addition to another one worth EGP 250 mn with Medicom for the project’s infrastructure. The company also inked an EGP 600 mn contract to bury high-pressure lines within Taj City.

Al Hitamy noted, “What have been achieved until now affirms the commitment of [MNHD] to deliver all the units of our projects before the specified time, with high-quality and different leading concepts.”

So far, the property developer handed over 1,700 residences in Taj City’s phase I, which hosts 500 families up until now. This is in addition to the beginning of the delivery of units in Capital Garden, a mini compound coming as part of Sarai.

Last year, MNHD managed to break the records and deliver 3,000 residential units, divided upon Nasr Gardens, Tag Sultan, and Premiara compounds in Nasr City. It owns a land portfolio of more than 9 mn square meters, with over 15,000 units under development across five projects in Greater Cairo.


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