Madinet Nasr Housing & Development (MNHD) has announced that reservations at its recently-launched project, Sarai, has reached EGP1.06bn, as of yesterday, 9 November, since its launch on 5 November. Management expects reservations to turn to contracts before end of November. Contracted sales (excluding Sarai reservations and including MNHD’s share in sales from Capital Gardens) had reached EGP2.4bn YTD (through October, 10M15: EGP505mn), with expectations to close the year at EGP3.9-EGP4.0bn. On a separate note, MNHD is in the final stages of negotiations for a EGP2.1bn loan facility, which will be injected into enabling infrastructure to Sarai (EGP900mn), development at Taj City (EGP600mn) and for general purposes (EGP500mn). (Company disclosure, Mai Attia, Sara Boutros)