TMG hits EGP 470bn in sales, outpacing top 9 competitors combined: Hisham Talaat Moustafa
Moustafa attributed the group's success to its innovative and modern approach to developing sustainable cities and real estate projects. All TMG projects utilize artificial intelligence technology, which optimizes energy and water consumption while reducing the need for human resources.
'We have relied on innovative and modern ideas in developing our cities and real estate projects,' Moustafa said during his presentation at the World Urban Forum. 'All of Talaat Moustafa Group's projects are currently managed using artificial intelligence technology, which significantly reduces energy, water consumption, and the need for human resources.'
TMG has also partnered with international companies, such as Huawei, to implement smart and sustainable city management systems across its projects.
Currently, TMG cities house 1.2 million residents and are projected to reach 2 million within the next seven years upon completion of the 'Noor' and 'SouthMed' projects. The Madinaty project alone has generated EGP 100bn in revenue for the government.
The group's international ventures have also been successful, starting with the launch of the 'Benan' project in Riyadh, Saudi Arabia. Following the success of this project, TMG is expanding into the Iraqi market. This expansion, along with the group's ongoing international sales efforts, is increasing foreign exchange earnings.
'We have another successful experience with the Ministry of Housing in the SouthMed project on the North Coast,' Moustafa said. 'We have successfully sold approximately 12,000 housing units in a short period due to high local and international demand. Twenty percent of these sales were made from outside Egypt, the highest percentage achieved by a real estate company in Egypt.'
This success, according to Moustafa, is attributed to an electronic system that facilitates sales, contracting, and payment from anywhere in the world, further promoting the export of Egyptian real estate.
The success of the Madinaty project, in particular, has made it a destination for investors and Arab delegations seeking to learn about Egypt's pioneering approach to developing smart and sustainable cities.
'The great success of the Madinaty project has made it a destination for investors and Arab delegations seeking to learn about Egypt's pioneering experience in developing smart and sustainable cities,' said Moustafa. 'Today, a delegation from Iraq is visiting the city, and tomorrow, Madinaty will host a high-level delegation from Saudi Arabia.
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