Friday 08 Nov
20% of the sales of the SouthMED project are directed towards foreign markets, thanks to advanced marketing technology
Hisham Talaat Moustafa, CEO of Talaat Moustafa Group (TMG), revealed that the company has integrated modern and innovative ideas into its urban development and real estate projects. TMG has embraced AI technology to manage its projects efficiently, resulting in substantial savings in energy, water, and labour costs. To further advance its sustainability goals, TMG has forged strategic partnerships with international giants such as Huawei. This collaboration will enable the implementation of the latest global advancements in managing smart and sustainable cities.
During
the third day of the World Urban Forum (WUF12), Hisham Talaat announced that
TMG's cities currently accommodate 1.2 million residents. Upon completion of
the Noor and SouthMED developments, this number is projected to reach 2 million
within the next seven years.
The
group's significant achievement in 2024 was the realization of 470 billion
Egyptian pounds in sales. This figure exceeds the aggregate sales of the top
nine real estate companies operating within the Egyptian market. As a result,
Talaat Moustafa Group solidifies its position as the preeminent real estate
entity in both Egypt and the Middle East.
Hisham
Talaat underscored the critical role of collaborative efforts between the
private sector and the Egyptian state in advancing urban development and real
estate. He cited the Madinaty project as a prime example of a successful
public-private partnership, which yielded substantial returns exceeding 100
billion Egyptian pounds for the state.
He
continued, "Our collaboration with the Ministry of Housing extended to the
SouthMED project on the North Coast, where we achieved significant success.
Within a brief period, approximately 12,000 housing units were sold,
attributable to robust domestic and international demand. A remarkable 20% of
these sales originated from outside Egypt, setting a new benchmark for the
Egyptian real estate industry. Our cutting-edge electronic platform facilitated
sales, contract execution, and payment processes globally, thereby contributing
to the expansion of Egypt's real estate exports."
He
pointed out the success of Talaat Moustafa Group's experience abroad, starting
with Saudi Arabia, where the Banan project was launched in Riyadh. Building on
the success of this project, the company is targeting a new market which is
Iraq. The Group aims to drive real estate exports and generate significant
foreign exchange earnings.
Hisham
Talaat confirmed that the remarkable success of the Madinaty project has made
it a destination for investors and Arab delegations to learn about the
pioneering Egyptian experience in developing smart and sustainable urban cities.
Today, the city is welcoming a delegation from Iraq, and tomorrow it will host
a high-level delegation from the Kingdom of Saudi Arabia.
Hisham
Talaat Moustafa's statements were made during a session titled 'Promoting Real
Estate Exports and Activating Investment Funds' as part of the 12th World Urban
Forum. The session was attended by Engineer Sherif El Sherbiny, Minister of
Housing, Utilities, and Urban Communities, Hassan Al-Khatib, Minister of
Investment and International Trade, Rania Al-Mashat, Minister of Planning,
Economic Development, and International Cooperation, and Major General Engineer
Ahmed El-Azazi, Head of the Engineering Authority of the Armed Forces, and
Engineer Khaled Abbass, Chairman of the Board and Managing Director of the New
Administrative Capital Company.
Talaat
Moustafa Group, TMG, Hisham Talaat, Banan, Riyadh, Madinaty, Noor, SouthMED, WUF12, World
Urban Forum, New Administrative Capital,
