Nasr City Housing (MNHD) reported its financial and operating headlines for 3Q16 and 9M16:      Strong contracted sales, totalled EGP1.5bn in 3Q16 (3Q15: EGP165.2mn), bringing the 9M16 total to EGP2.0bn (9M15: EGP481.3mn). Contracted sales totalled EGP2.4bn through October (9M15: EGP505mn). Management is guiding for EGP3.9-4.0bn for 2016, with the inclusion of EGP1.1bn in reservations at Sarai, which are expected to be turned into contracts before year-end Strong ramp-up in construction spending, at EGP134mn in 3Q16 (2Q15: EGP56mn) and EGP481.3mn (9M15: EGP172mn) Deliveries at Tag Sultan were at 98 units in 3Q16, bringing total deliveries to 202 units in 9M16 and 392 in total, with the full-year’s target at 450 units The company has started recognising revenue from Capital Gardens in 2Q16, with the total recognised to date at EGP307mn Sarai phase I was launched in November. Total reservations were at EGP1.1bn Revenue came in at EGP578.7mn (+307% Y-o-Y), bringing 9M16 revenue to EGP1.1bn (+148% Y-o-Y). Net income was EGP310.1mn (+317% Y-o-Y), bringing 9M16 net income to EGP457.3mn (+155% Y-o-Y) (Company disclosure, Mai Attia, Sara Boutros)