Thursday 19 backend.Sep
Talaat Moustafa Group (TMG), the prominent Egyptian real estate developer, has achieved remarkable sales of EGP 340 billion (USD 7.1 billion) till July 8, 2024, a staggering increase of over seven times compared to the same period last year, with EGP 200 billion (USD 3.4 billion) of sales generated from the "SouthMed" project on the North Coast in just six business days since its launch. This milestone marks an unprecedented achievement in the history of Egypt and the global real estate industry.
TMG's Banan project in Saudi
Arabia has achieved remarkable sales of approximately EGP 40 billion since its
launch in May 2024, surpassing its first-year sales target in just two
months.
This achievement propels TMG
Holding to the forefront of the Middle East and North Africa (MENA)
region. They are now the fastest and largest company to achieve sales for
a single project, solidifying their strong track record and brand recognition.
These exceptional sales are expected to drive TMG's profitability and return on
equity to record highs in the coming years.
Leveraging five decades of
experience and customer loyalty, TMG successfully transformed itself into a
regional real estate leader in 2024. This strategic restructuring is fuelled by
the phenomenal sales success of both "SouthMed" and "Banan"
projects.
The surge in sales not only
propels the group to record-breaking levels but also fuels regional diversification.
This translates to a significant boost in real estate exports and a continued
rise in foreign currency income.
Adding another source of foreign
currency income: the group's extensive hotel portfolio. This network of 3,500
operational rooms in Egypt, soon to expand to 5,000, is projected to generate
over $300 million in combined revenue.
Talaat Moustafa Group anticipates
generating billions of Egyptian pounds in profits for shareholders within a
short timeframe. This confidence stems
from their unique and unreplicable business model. No other regional real
estate company is positioned to replicate their success in the foreseeable
future, thanks to the vision of strong management.
TMG Holding affirms that the
exceptional sales surge experienced in 2024 is a powerful testament to their impeccable
brand reputation, widely recognized for excellence, resonates deeply with their
extensive customer base and their solid track record among its customer base of
over 140,000 high-spending customers. This solidified the Group’s position as a
leading real estate company in the Middle East and North Africa region and the
largest real estate development company.
TMG believes that the sales
success is a direct result of its in-depth understanding of market needs and
its ability to accurately identify market opportunities and provide a
high-quality real estate products with distinctive designs. Their commitment to
client satisfaction extends to offering attractive and carefully crafted
payment plans – a unique advantage in the North Coast market.
Spanning an expansive 23 million
square meters, "SouthMed" overlooks a long, pristine beach.
SouthMed is a fully integrated
urban development project, meticulously planned that sets a new standard for
excellence on the Mediterranean coast.
SouthMed's recent launch has
generated a wave of international acclaim and extensive media coverage. Lauded
as a transformative project, it is poised to become a beacon, attracting global
attention to the tourism and entertainment scene in Egypt.
