Monday 23 Dec
Forbes magazine revealed the reason for choosing CEO and Managing Director of Talaat Mostafa Holding Group (TMG), businessman Hisham Talaat Mostafa, among the top ten in the list of the most influential real estate company leaders in the Middle East.
The magazine said that over more than 40 years, Mostafa has lead TMG in developing integrated residential communities and mega tourism investment projects.
Forbes listed some of Mostafa's successes in building integrated residential projects on a vast land portfolio exceeding 74 million square meters. The most prominent ones are Noor City, Madinaty, Celia, and ElRehab City, besides many other projects.
He also succeeded in penetrating the Saudi market with the Banan Smart City project built on an area of 10 million square meters.
He had an agreement with ADQ Holding and Modon Properties Company to cooperate in the development of Egypt’s North Coast Ras Al Hekma project.
Mostafa was able to develop major tourism projects such as constructing 4 luxury hotels in Cairo, Sharm El Sheikh, and Alexandria managed by the global hospitality companies: Four Seasons Hotels and Resorts, and Kempinski Hotels. He is working on the construction of 3 hotels in Madinaty, Luxor, and Marsa Alam in addition to making the design of another hotel in the Pyramids plateau.
In February, Mostafa acquired 7 new hotels, bringing the total number of hotels in TMG to 15 comprising more than 5,000 rooms. He also managed to increase the Group's revenues by 43% in 2023 to exceed $916 million.
Forbes has identified its criteria in preparing the list of the most influential real estate company leaders in the Middle East according to 4 factors:
total assets, market value and revenues (if disclosed),
the value or area of the land portfolio and the number of units owned by the company,
the value of completed projects and others under construction,
and the company's commitment to delivering properties in time.
