Madinet Nasr for Housing & Development (MNHD) achieved over EGP 11 bn gross in contracted sales in 2022, Invest-Gate reports.

The company’s revenue surged 145.8% YoY to EGP 5.155 bn in 2022.

The number of units sold soared 199.3% to 3,215 last year from 1,074 a year earlier.

MNHD delivered 2,070 units in 2022, up from 1,030 the year before.

Furthermore, the company’s land portfolio remained at around 9.6 mn sqm.

“I am delighted to report on what has been an exceptional year for MNHD. We embarked on a journey of reinvention and change at the start of the year and the stellar results achieved since demonstrate the validity of our new growth strategy and vision,” MNHD’s CEO, Abdallah Sallam, says.

“2022 was a transformation year for our Company that yielded noteworthy results. We look forward to carrying forward the momentum into 2023 as we continue to deliver on our growth strategy with operational and financial results that set us apart from the competition and differentiate our communities. We are confident in our approach and optimistic about a new era for our Company,” he adds.