Egyptian real estate developer Madinet Nasr Housing and Development (MNHD) says its pre-sales rose in 2017 by 46% year-on-year, Invest-Gate reports.

Pre-sales including contracts and reservations reached EGP 5.03 bn in 2017, compared to EGP 3.5 bn in 2016, according to a bourse filing.

The company attributed higher pre-sales to SARAI which reached EGP 3.1 bn in pre-sales followed by Taj City which recorded EGP 1.9bn.

MNHD is currently developing five main projects in Cairo that include more than 10,000 units.