TMG Holding Denies Land Purchase in Alexandria

TMG Holding Denies Land Purchase in Alexandria

Egypt’s property developer, Talaat Moustafa Group Holding Company (TMG), denies buying an airport land in Alexandria, Invest-Gate reports.

The company’s statement comes as a response to negate news circulating in the media regarding this issue, according to a bourse filing.

Meanwhile, the developer’s CEO Hisham Talaat Mostafa has paid a visit to Saudi Arabia to meet the Kingdom’s Minister of Housing as part of the activation of a memorandum of understanding (MoU) signed in April 2016, according to a bourse statement published on July 31.

The company is also working to settle suspended matters with the New Urban Communities Authority (NUCA).

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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