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TMG CEO and Managing Director for the Arab Company for Projects and Urban Development, Hisham Talaat Moustafa, praised the vital role played by Egypt’s banking sector in general, and the NBE and Banque Misr in particular, in supporting Egypt’s real estate sector.
The figures bring sales for the first half (H1) of 2020 to EGP 4.5bn, representing a downturn of 61.9% y-o-y. On a sequential basis, the company’s sales performance seemed to hold its ground, portraying a slight 0.4% quarter-on-quarter (q-o-q) increase.
Company reported EGP 243m in its hotel revenues during first two months of 2020
Donation recipients include Tahya Misr Fund, Health Ministry, ‘A Decent Life’ initiative
FRA earlier approves first Sukuk offering worth EGP 2bn
The issuance is reportedly to have a positive impact in three ways, given the current crisis facing Egypt’s economy due to the ongoing coronavirus (Covid-19) pandemic.
TMG is targeting sales in the fiscal year (FY) 2019/20 similar to those in FY19, of EGP 20.4bn.
The campaign is fully consistent with the directives of the Ministry of Health, as well as occupational health and safety requirements. The campaign includes sterilisation of all administrative buildings for workers, as well as roads and elevators.
Given the recent growth in the real estate sector in Egypt, the Oil Fund increased its investments in Egyptian real estate companies last year, with total investments amounting to $96.5m in seven firms. TMG had the largest share of them.
CIAF delays its Sukuk programme to mid-year
Hisham Talaat Moustafa said that the signing is an indicator of the great development witnessed in Egypt’s public sector, ”partnership between private and public sector is better than ever, which will positively impact the Egyptian economy.”
Company allocates unlimited budget for the players
It is more difficult to stay on top than to get there. This is what businessperson Hisham Talaat Moustafa, the best Egyptian real estate developer, is working on.
Issam added that competition within the FM sector in Egypt is growing rapidly as a result of the accelerated pace of urban development, and the competitiveness rate has increased by at least 60% among local companies.
Naeem expects cooling down of sales in Celia during 2019
TMG Holding announced an increase of its property revenue to EGP 1.2bn by end March
In 2018 TMG achieved EGP 1.7bn in profits, followed by MNHD with EGP 1.08bn, Palm Hills EGP 811.7m
The population who inhabit Talaat Moustafa Group’s (TMG) projects reached about 700,000, according to the group’s data.
New partnership will offer long-term, competitive mortgages, increasing affordability to better serve Egypt’s growing population of homebuyers
Norwegian ‘Government Pension Fund Global’ invests $428m in EGX until end-2018
EFG Hermes will finance equity component of transaction on its own balance sheet
Sales have exceeded the company’s targeted annual budget to EGP 13.1bn
The group says it received several inquiries regarding bin Talal’s investments
The company raises annual sales budget to EGP 11.4 billion
41% sales of Madinaty housing units and infrastructure is fully complete