Thursday 21 Nov
Ahmed Hany Talaat, CEO of Talaat Moustafa Group (TMG) Saudi Arabia, announced that 4,000 units were sold in the Banan project in the Saudi capital, Riyadh, within only 5 months of its launch last May. This exceeds the group's planned target of selling 3,000 units over an entire year.
Ahmed Talaat confirmed that the first phase of the project has been fully sold out. The second phase has now been launched. He expressed confidence that the new phase will sell equally well.
Banan city, a sprawling 10
million square meter development in the Fursan suburb, marks Talaat Moustafa
Group's (TMG) first international project. The largest real estate developer in
Egypt, TMG is partnering with the National Housing Company on this ambitious
undertaking.
Banan city offers more than 27,000 residential units, including apartments, villas, and family residential land. It is expected that 40% of the city will be dedicated to green spaces.
