Talaat Moustafa Group (TMG) topped the Egyptian companies among the Forbes global list of the 50 most powerful real estate companies in the Middle East and North Africa 2021.
Forbes magazine stated that Talaat Moustafa Group’s new project “Noor” includes about 120,000 housing units and a 5-star hotel, in addition to green spaces, facilities and commercial centres.
Forbes added that TMG has total assets of $8bn, built more than 120,000 housing units, and owns a land portfolio of 74 million square meters.
Talaat Mostafa Holding Group achieved its highest historical level of sales by more than EGP 27.5bn during the first nine months of 2021. TMG has raised its sales forecast to EGP 30bn for 2021.
The group also achieved, until September 30 of this year, a balance of unproven actual sales of EGP 63.3bn, the highest realized and unproven sales among Egyptian real estate companies.
The total revenues of Talaat Moustafa Group during the first nine months of 2021 grew by 9% year-over-year to record about EGP 11.31bn.
Talaat Moustafa ranked tenth in the Forbes list, while Palm Hills Real Estate Development Company came in the 21st place, Memaar Al-Morshedy Company ranked 24th, and Sixth of October Development and Investment Company (SODIC) ranked 36th.
Madinet Nasr Housing and Development Company ranked 38th, Orascom Real Estate Development Company ranked 42nd, and Dorra Real Estate Company ranked 50th.
