Talaat Moustafa Group Holding (TMG Holding) is preparing to launch its highly anticipated new project, “South Med,” on the North Coast, Invest-Gate reports.

Spanning an impressive area of 23 million square meters, this project will be developed using a low-risk financial model.

The group anticipates that the strong and unprecedented sales performance witnessed thus far will continue throughout the year. This is expected to be supported by the upcoming launch of the South Med project and the sustained robust demand observed in Saudi Arabia.

TMG Holding has achieved remarkable sales amounting to EGP 122 billion, a staggering increase compared to the EGP 45 billion achieved during the same period last year, representing a year-over-year growth of 2.7 times.

Notably, this figure includes sales worth EGP 37.1 billion from the group’s new project in Saudi Arabia, with approximately 2,500 units sold in the project thus far.

It is worth mentioning that since TMG Holding clearly defined its new strategy and announced it to the market in 2017, its annual sales have increased tenfold. Following the aforementioned sales, the volume of unproven sales from units sold but not yet delivered has surged to EGP 239 billion.

Since 2017, TMG Holding has significantly expanded its exceptional land portfolio to encompass 54 million square meters, strategically acquired under competitive conditions. This ensures the sustained growth of its business over the next 20 years and beyond.

The expansion includes land purchases for Noor City project (21 million square meters), Banan City in Saudi Arabia (10 million square meters), and most recently, the agreement concluded to develop the South Med project on the North Coast (23 million square meters), which is set to launch this summer.

As a result of these expansions, the total area of primary lands has reached an impressive 107 million square meters in Egypt and Saudi Arabia.