Talaat Moustafa Group Holding’s (TMG) projects have significantly bolstered real estate exports and boosted the Egyptian state’s foreign exchange reserves with its remarkable sales performance in its global undertakings, specifically the SouthMED project in Egypt and Banan project in Saudi Arabia, Invest-Gate reports.

These ventures collectively propelled the group’s sales to $8.1 bn from the inception of this year until July 29, 2024.

Regarding the SouthMED project situated on Egypt’s northwestern Mediterranean coast, the group, in a financial disclosure to the Egyptian Exchange, announced sales figures of $5.2 bn within less than a month of its market debut. This achievement positioned the group as the swiftest and most prolific company to secure sales for a singular project within the Middle East and North Africa region.

The disclosure also highlighted Banan project in Saudi Arabia, initiated last May, which has garnered unprecedented sales amounting to EGP 42 bn, surpassing the initial sales target for its inaugural year.

Furthermore, TMG’s hotel sector has achieved commendable success, with projected revenues, exceeding $300 mn. Currently encompassing 3,500 operational rooms in Egypt, this number is anticipated to elevate to approximately 5,000 rooms in the near future.

The notable performance across these ventures delineates an exceptional year for the group, solidifying its stance as a key regional player. This success stems from five decades of diligent effort, customer trust, regional diversity, and consistent advancement in real estate exports.

The robust sales momentum witnessed in 2024 underscores the group’s brand resilience and unwavering rapport with its extensive customer base, surpassing 140,000 high-spending patrons. These achievements position TMG as the premier real estate firm in the Middle East and North Africa region, solidifying its status as the largest real estate development company in the area.