Madinet Nasr for Housing & Develop. Press release (1861S)
04 Noviembre 2019 - 7:23AM
UK Regulatory
TIDMMNHD
RNS Number : 1861S
Madinet Nasr for Housing & Develop.
04 November 2019
Madinet Nasr for Housing & Development announces Service
Station Land Rental to TOTAL Egypt
Madinet Nasr Housing & Development (EGX: MNHD.CA, "MNHD"), a
leading urban developer in Egypt, announced today that the board of
directors meeting held on the 3rd of November has accepted an offer
from TOTAL Egypt to rent a land plot in SARAI on El Amal Road (main
access from Suez Road to the New Administrative Capital) for a
period of 25 years.
The 3,000 sqm plot will be part of a 7,000 sqm development where
TOTAL Egypt will build and operate a flagship service station with
its anchor convenient store concept "Bonjour" among other services,
and MNHD will manage the adjacent commercial space.
"This is MNHD's first venture into a recurring income asset in
SARAI," said Ahmed El Hitamy, CEO of MNHD, "and we are excited to
team up with an industry leader such as TOTAL Egypt."
The deal is pending contract signing among other legal
steps.
-Ends-
About Total Egypt:
Total Egypt is a subsidiary of the international Oil Company
Total SA established in 1998 with a mission to provide customers
with quality products and services. The company is active across
the entire oil product distribution sector, with general sales,
lubricants, and Marine and Aviation activities as well as a Retail
network. The company runs a retail network of 240 stations
throughout the country retailing high-quality fuels and lubricants,
as well as services and various products at its Bonjour shops, and
has established a state-of-the-art lubricant blending plant in Borg
El Arab. At Total Egypt, the safety of people and operations,
environmental protection, customer satisfaction and listening to
stakeholders are core concerns. Industrial hygiene, employee health
and product quality are uncompromising priorities.
About Total:
Total is a major energy player, which produces and markets
fuels, natural gas and low-carbon electricity. Our 100,000
employees are committed to better energy that is safer, more
affordable, cleaner and accessible to as many people as possible.
Active in more than 130 countries, our ambition is to become the
responsible energy major.
About MNHD
Madinet Nasr Housing & Development (MNHD) is a leading
Egyptian urban developer. Since inception, the company has
initiated and completed a number of key developments, including the
majority of the Nasr City district in the Greater Cairo Area, which
covers an area of more than 40 million square meters and is home to
3 million people. MNHD's land bank includes 3.5mn sqm in a prime
location inside Cairo across from Cairo International Airport and
5.5mn sqm in a strategic location on the Suez Road. You can learn
more about us on our website at mnhd.com.
Ahmed El Hitamy
CEO
MNHD
4, Youssef Abbas St.
Nasr City, Cairo
Tel: +2 (02) 2400-6207
aelhitamy@mnhd.com
Salah Katamish
Director of Investor Relations
MNHD
4, Youssef Abbas St.
Nasr City, Cairo
Tel: +2 (02) 2400-6207
skatamish@mnhd.com
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END
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