Madinet Nasr for Housing & Develop. Press release (1861S)

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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November 04, 2019 08:23 ET (13:23 GMT)

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