Madinet Nasr Housing & Development (MNHD) has issued a release with an update on its most recent launch, Sarai phase I, and on 10M16 contracted sales. The following is of note:   Sarai was officially launched on 5 November, with all launched units for phase I, worth a combined EGP815mn, reserved on the launch day Management expects reservations to be turned into contracts before end November Total number of units for Sarai amount to 1,300, of which 463 units were launched, representing phase I of the project Unit types: i) apartments ranging between 120 sqm and 240 sqm; and ii) S-Villas: ranging between 260 sqm and 295 sqm October sales amounted to EGP450mn from Taj City. This brings the total contracted sales YTD through October to EGP2.4bn (10M15: EGP505mn). The figure is inclusive of EGP333mn as MNHD’s share in Capital Gardens, but exclusive of Sarai’s reservations, pending the finalisation of the contracts . (Company disclosure, Mai Attia, Sara Boutros)