Madinet Masr expects contracted sales to hit EGP 20B in 2023
Updated 10/3/2023 10:36:00 AM
Arab Finance: Madinet Masr’s contracted sales have hit a new fresh record during the third quarter (Q3) of this year, with expectations that sales would exceed EGP 20 billion in 2023, as per a press release on October 3rd.
Beyond sales volume, Madinet Masr's record-breaking accomplishments included the quick selling of more than 2,400 units across several projects in a short period of time.
The first and second phases of the Elan project in Sarai, which included more than 300 units combined, were fully sold out immediately after its launch in May and June, achieving total sales of EGP 1.4 billion.
A total of EGP 6 billion in sales were achieved from the Club Side project in Taj City, which included over 1,200 units. The fourth phase of the project sold out in less than a month.
“These milestones reaffirm the strong performance and growth rates we have experienced, due to the diligent efforts of our team as well as our strategy focused on delivering innovative real estate projects that cater to the diverse needs and expectations of our customers,” President and CEO of Madinet Masr Abdallah Sallam said.
Established in 1959, Madinet Masr is a leading real estate developer dedicated to building large-scale communities in strategic locations across Egypt.
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