Egypt: Talaat Moustafa Group records $3.15bln in sales year-to-date
This performance includes EGP 70bn in sales achieved in a single day from the second phase launch of its North Coast project, SouthMed.
The company announced that the second phase launch of SouthMed generated EGP 70bn in sales on one day, a div that surpassed the demand observed during the project's first phase in 2024. Approximately 5,100 units were sold on that day, bringing the total sales for the SouthMed project to over EGP 352bn since its inception in July 2024.
Talaat Moustafa Group overall real estate sales of EGP 160bn year-to-date represent a 127% year-on-year growth. In a disclosure to the Egyptian Exchange on Wednesday, the group stated that this achievement confirms its position in the market, with its sales performance serving as a clear and solid benchmark.
The group's performance in 2025 follows a strong 2024, when its sales surpassed EGP 500bn. TMG reported a 70% compound annual growth rate (CAGR), which it said demonstrates the strength of its business model and brand.
The company attributed its success to strong trust from over 200,000 high-net-worth clients, deep market insight, high-quality developments, and innovative payment systems that it stated are influencing standards across Egypt's real estate sector.
Talaat Moustafa Group has surpassed EGP 1trn in cumulative real estate sales. The company holds a land bank of over 107 million square metres and is pursuing regional expansions aimed at boosting its growth and foreign currency generation.
The company highlighted its entry into the Saudi market last year as a significant development, noting it as the first Egyptian developer to export high-quality real estate to Gulf countries on this scale and an entity that has set new benchmarks in the region.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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