Madinet Nasr Housing and Development
The infographic results were based on 3 main indicators, which are the volume of the land and assets portfolio, revenues, and the contractual sales .
MNHD clarified that this step came as part of the company’s plan to monetize receivables from delivered units in Tag Sultan and other completed projects.
In a filing to the Egyptian Exchange (EGX), MNHD attributed the decline of negotiations to disagreement on the terms of the swap transaction.
As per standalone results, the company achieved a profit of LE 816.7 million during the January to September period, compared to LE 755.9 million in 2017.
SODIC clarified that the discussions will bring benefits and synergies to both companies.
Sales grew five-fold to reach LE 2.4 billion in the first six months of 2017 and advanced to LE 576.8 million in the second quarter of the year.