Madinet Nasr Housing & Development (MNHD) has just issued a sales update for 8M16:   8M16 contracted sales has reached EGP1,411mn (8M15: EGP439.4mn), with August recording EGP519.1mn (August 2015: EGP83.7mn) Sales contracted in July and August 2016 contributed c57% of the total figure for 8M16, with the bulk of sales, driven by sales at Taj Sultan and Taj City MNHD’s share in sales at Capital Gardens (project co-developed with PHD) totalled EGP173.9mn in 8M16 and EGP65.6mn in July-August 2016 Management attributed the strong sales performance seen in July and August to expanded sales capabilities over the past three months YTD sales figure exceeds management’s latest guidance for the year of EGP1.2bn. The company plans a new launch at Sarai before year-end (Company disclosure, Mai Attia, Sara Boutros)   Nasr City Housing: EGP14.75 as of 04 September 2016, MCap: USD833mn, MNHD EY / MNHD.CA