By: Abdullah Bedeir
Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) is looking forward to closing a securitisation deal valued between EGP 300 million and EGP 400 million as soon as possible, managing director Ahmed El Hitamy stated.
EFG Hermes’ securitisation unit is managing the deal in partnership with Commercial International Bank (CIB), El Hitamy added, noting that the company’s securities are expected to be offered before the end of 2019.
As per the top official, the delivery of the first phase of the securitisation will be followed by another deal with a higher value.
During the first half of 2019, Madinet Nasr Housing and Development logged a profit of EGP 515.686 million, compared to EGP 611.728 million in the corresponding period of 2018.
