Thursday 14 Nov
Talaat Moustafa Group (TMG) announced a significant milestone for its Banan project, achieving record sales of 53 billion Egyptian pounds by November 6th, surpassing its annual sales target. Thousands of customers have already booked units in Banan City, a sprawling 10 million square meter development northeast of Riyadh, Saudi Arabia. Launched last May in collaboration with the National Housing Company (NHC), Banan City has garnered significant interest. TMG has commenced construction work, adhering to strict timelines and construction plans to ensure timely delivery of units and a fully functional city from the very beginning.
This achievement follows closely after the Madinaty project welcomed delegations from Saudi Arabia and Iraq. These visits highlighted TMG's pioneering role in developing smart, sustainable, and fully serviced cities, showcasing the group's expertise and commitment to innovative urban development.
Talaat Moustafa Group (TMG)
announced a record-breaking year, achieving sales of 470 billion Egyptian
pounds. A significant portion of these sales, amounting to 280 billion Egyptian
pounds (approximately 5.6 billion USD), was generated by its new SouthMED
project on the North West Coast. This remarkable figure surpasses the combined
sales of the top nine real estate companies in Egypt.
Hisham Talaat Moustafa, CEO and
Managing Director of TMG, revealed that SouthMED SouthMED has set a new
industry benchmark by selling 12,000 residential units. Notably, 20% of these
units were sold to the global market, underscoring the strong international
demand for TMG's offerings and the high level of trust it enjoys among both
domestic and foreign buyers.
Talaat Moustafa Group stated that its strong sales momentum in 2024 underscores the strength of its brand and its solid reputation among its 140,000 high-spending customers. The group's success can be attributed to its deep understanding of market needs, its ability to identify emerging opportunities, and its commitment to delivering high-quality, distinctively designed real estate products.
