Friday 08 Nov
Talaat Moustafa Holding Group has announced record-breaking sales of 470 billion Egyptian pounds (US$9.4 billion) through November 6th. This is compared to approximately 108 billion Egyptian pounds recorded during the same period last year, representing a significant increase of more than four times compared to the same period in 2023.
The SouthMED project, located on Egypt's North Coast, has generated 280 billion pounds (US$5.6 billion) in sales since its launch. Meanwhile, the Benan project in Saudi Arabia has exceeded its first-year sales target, achieving 53 billion Egyptian pounds since its launch in May of the previous year, surpassing its first-year sales target."
TMG Holding has reported an
exceptional 2024, marked by its strategic transformation into a regional real
estate powerhouse. Leveraging its 50-year legacy and strong customer trust, the
company has driven record sales for its flagship projects, SouthMED and Benan.
This surge in sales has not only expanded the company's regional reach but also
significantly increased its foreign currency earnings through robust real
estate exports.
Furthermore, the company's
thriving hotel sector, currently comprising over 3,500 operational rooms in
Egypt, is projected to generate over $300 million in annual revenue. With plans
to expand its hotel portfolio to approximately 5,000 rooms, the company is
poised to further solidify its position as a key player in the hospitality
industry and continue to bolster its foreign currency income.
Talaat Moustafa Holding Company's
management is optimistic that the group's new business model, leveraging its
market leadership and strong administrative vision, will deliver substantial
profits to shareholders in the short term.
TMG Holding has experienced
remarkable sales growth in 2024, driven by its strong brand reputation and a
loyal customer base of over 140,000 high-net-worth individuals. The company's
success can be attributed to its deep understanding of market dynamics, its
ability to identify and capitalize on emerging opportunities, and its
commitment to delivering exceptional, high-quality real estate products. The
company's innovative payment plans have further enhanced its market appeal,
particularly in the competitive North Coast market.
SouthMED, a sprawling
23-million-square-meter development on the Mediterranean coast, is poised to
become a global destination. Designed to international standards, Southmead has
already garnered significant international attention and media coverage,
positioning Egypt as a premier tourism and leisure destination.
The strong sales performance and the success of recent project launches have propelled Talaat Moustafa Holding Company onto a new growth trajectory. With a robust balance sheet, high liquidity, and prudent financial management, the company is well-positioned to deliver substantial value to its shareholders in the years to come.
