Madinet Nasr Housing Company (MNHD) has announced it has signed a protocol with the Ministry of Defense, the Cairo governorate, the General Authority for Urban Planning, and the General Authority for Roads and Bridges, as a precursor for the approval of the amended master plan of 3.5 million sqm project, Taj City. The amendments will allow for the redistribution of the project’s amenities and facilities for a better integrated urban community, according to the company’s release. The amendments also entail a commitment from MNHD to support the development of public roads and highways intersections in the areas surrounding Taj City, including the service axis running parallel to the Ring Road. The company launched the second phase of the project late last year, with total expected contracted sales amounting to c.EGP4 billion and investment costs of c.EGP2 billion. The company targets EGP800 million in contracted sales from Taj City in 2016, according to Ahmed El-Hitamy, Company General Manager. The project will be completed over 10 phases, spread over seven years. Sales from the first phase of the project surpassed the EGP2 billion mark. (Company disclosure, Al Mal) Nasr City Housing: EGP26.58 as of 11 January 2016, Rating: 0, FV: EGP0.00 per share, MCap: USD849 million, MNHD EY / MNHD.CA