Madinet Nasr Housing & Development’s (MNHD) Tag Sultan city, targeting upper and middle income clients, has recorded EGP 300m in sales in the first phase, which started in October, the company said on Tuesday.

Tag Sultan is a 300,000 sqm residential project in Cairo catering to upper-middle income clients.  MNHD sold residential units worth EGP 1.9bn in Tag Sutlan, or 93% of the project, as of 30 September 2015. Planned deliveries during the final quarter of 2015 are expected to reach 150 units.

“We are truly excited to have reached this key milestone in the roll-out and development of Tag Sultan,” said Ahmed El Hitamy, General Manager of MNHD. “As a player in Egypt’s highly competitive real estate market, on-time delivery is key to success and to holding true to one’s reputation of being a leading developer. MNHD set a schedule for Tag Sultan’s delivery and today we met it, a commitment that we’ll continue to honour with the roll-out of our future projects.”

MNHD continues to receive positive feedback from its clients regarding the quality at which Tag Sultan was developed, with particular emphasis on the project’s design, quality finishing and on-time delivery.

Tag Sultan is also adjacent to MNHD’s Taj City development, a 3.5m sqm mixed-use, high end development in a prime location inside Cairo across from the JW Marriott Hotel and Cairo International Airport. When completed, the EGP 25bn Taj City development — which is MNHD’s most ambitious project  to-date — will feature a wide variety of residential communities, office buildings, a medical centre, hotels, restaurants, shopping and other commercial ventures.