Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) achieved contractual real estate sales and reservations exceeding EGP 100 billion year-to-date (YTD) until 20 May 2024.
Covering 9,303 units, the sales value is higher than EGP39 billion registered in the same period of 2023, according to a bourse statement.
TMG Holding witnessed an unprecedented year-on-year (YoY) growth in contractual sales, marking approximately 2.6x of the booked sales.
These sales include about EGP24.20 billion representing 1,706 units of sales in the new sustainable city, Banan, located east of Riyadh, which were achieved in only seven working days since its launch.
National Housing Company (NHC) and TMG Holding launched the Banan City project with SAR 40 billion in expected revenues.
In 2023, the consolidated net profits after taxes and non-controlling interests of TMG Holding hiked by 44% year-on-year (YoY) to EGP 3.31 billion from EGP 2.30 billion.
