Latest news with #Moustafa
Daily News Egypt
a day ago
- Business
- Daily News Egypt
Hisham Talaat Moustafa leads Egyptians in Forbes 2025 travel and tourism list
Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding (TMG), has been named the top Egyptian leader in Forbes Middle East's 'Top 100 Travel & Tourism Leaders 2025' list for the fourth consecutive year. Hisham Talaat Moustafa advanced three places from last year to rank 12th regionally among the most influential names in the sector. Forbes attributed the ranking to Moustafa's more than 40-year career leading TMG, which currently manages over 5,000 hotel rooms across 11 operational hotels, with five more under development. The group's land bank stands at 125.9 million square metres in Egypt, Saudi Arabia, Oman, and Iraq. TMG recorded cumulative sales of $6.9bn in the first quarter of 2025, and its hotel sector revenues rose by 50% to $69m, accounting for 37% of the group's total revenues of $186m. In May 2025, the group signed a strategic agreement with Oman's Ministry of Housing and Urban Planning to develop two real estate projects, reinforcing its regional presence. The Forbes Middle East ranking methodology included criteria such as the size of the company's business, the number of hotels and rooms, revenues, investment and asset value, and regional presence. It also considered economic impact, asset ownership, the CEO's influence, and significant achievements and initiatives during 2024 and 2025. Hisham Talaat Moustafa has led a significant transformation in the Egyptian tourism sector, notably through the acquisition by TMG's hospitality arm, ICON, of a 51% stake in Legacy Hotels and Tourism Projects. Legacy owns seven historic hotels, including the Marriott Mena House in Cairo, the Sofitel Winter Palace in Luxor, and the Old Cataract in Aswan. This acquisition boosted the group's dollar-denominated income and facilitated new investments in these properties. TMG has also enhanced the standard of hospitality in Egypt through partnerships with international brands like Four Seasons and Kempinski. This has helped to raise hotel room rates in Egypt and attract a new segment of high-spending tourists, contributing to the country's position as a leading luxury tourism destination in the region.
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
Hisham Talaat Moustafa eyes Oman as promising real estate, tourism investment hub
Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group (TMG), has affirmed that the Sultanate of Oman holds a promising future for its real estate sector and is poised to be a regional real estate and tourism hub. Speaking at a dialogue session during the 20th edition of the Oman Real Estate Conference and Exhibition, Moustafa emphasised Oman's economic advantages, including political and economic stability, low inflation rates compared to many regional markets, and a flexible legislative environment that supports investor rights, as factors making it an attractive destination for real estate investment. Hisham Talaat Moustafa noted that TMG received full support for over a year from Omani Minister of Housing Khalfan Al Shueili and other officials. This collaboration culminated in the signing of an agreement between TMG and the Omani Ministry of Housing and Urban Planning to develop two real estate and tourism projects west of Muscat, the Omani capital. He elaborated that clear indicators point to an increasing demand for real estate in the Sultanate in the near future. Hisham Talaat Moustafa highlighted that over 65% of Oman's total population is aged from birth to 30 years, signifying a young demographic expected to fuel future demand for both housing and services. This demographic trend also suggests substantial annual growth within the real estate sector, creating broad opportunities for investment and development, he added. Talaat Moustafa Group aims to actively participate in developing integrated cities and projects in the Sultanate, keeping pace with this growth, Hisham Talaat Moustafa said. He stated this aspiration is backed by the Group's approximately 55 years of experience in real estate development, during which they have developed integrated cities housing over 1.5 million people. In the tourism sector, TMG possesses the largest hotel portfolio in Egypt, with over 5,000 hotel rooms and an additional 3,000 rooms currently under development, according to Moustafa. 'I invite all investors worldwide to turn their attention to the Sultanate of Oman, which represents a promising investment destination, not only in the real estate sector but also in the growing tourism sector, thanks to Oman's unique characteristics,' Hisham Talaat Moustafa stated during the conference. Ahmed Sabbour, Chairperson of Al Ahly Sabbour Developments, who also participated in the session, affirmed that the entry of Talaat Moustafa Group will encourage Egyptian real estate developers to join the Omani market. The conference was held under the patronage of Sayyid Bilarab bin Haitham Al Said at the Oman Convention and Exhibition Centre and saw significant participation from leading local and international investors, real estate developers, and experts and consultants in urban planning, urban development, and real estate development.
Egypt Today
08-05-2025
- Sport
- Egypt Today
Omar Talaat Mostafa Presents Ambitious Vision to Boost Egypt's Tourism Revenue Through Golf
The Pan Arab Golf Championship for Juniors and Ladies commenced on Wednesday at the Madinaty and Katameya Dunes golf courses in Egypt, and will run until Saturday. The event, described as the first and largest Arab golf event of its kind, is also serving as a platform to highlight Egypt's ambitious vision to significantly increase its tourism revenues through golf tourism. Omar Hisham Talaat Moustafa, President of the Egyptian Golf Federation, speaking as a guest on the 'Mal'ab ON' programme with journalist Ibrahim Abdel Gawad, stated that the championship's activities would extend beyond sporting competitions. He explained that the event aims to offer unique experiences for families, featuring exciting shows and a golf festival held on the sidelines. An open invitation was extended to Egyptian families to participate and learn more about the sport. Discussing the golf industry from an investment perspective, Moustafa noted that many countries have successfully leveraged the sport to attract tourists and generate substantial income. He pointed out that Egypt received approximately 15 million tourists last year, with a strategic plan in place to double this figure to 30 million. Moustafa suggested that golf tourism could be a significant component of this plan. He drew comparisons, emphasising that Costa del Sol in Spain boasts over 70 courses, attracting around 1.2 million golf tourists annually. Similarly, the Turkish city of Belek, with 15 courses, welcomes 140,000 golf tourists each year. Moustafa explained that Egypt currently has 25 existing golf courses, which are visited by only 30,000 tourists annually. He stated that these courses have the capacity to host 50,000 rounds of golf per year, yet currently, no more than 10,000 rounds are played annually. He added that Egypt has the potential to attract a specific segment of tourists interested in playing the sport, noting that there is already high demand for such activities. He asserted that Egypt is well-positioned to implement this vision. 'The average duration of a golf tourist's trip is five days, with only two days dedicated to playing, while the remaining time is spent visiting tourist, heritage, and entertainment attractions,' Moustafa said. 'With a simple calculation, hosting an additional 40,000 golf rounds could attract 16,000 tourists per course in Egypt, totalling 400,000 new tourists.' Moustafa further elaborated on the economic benefits: 'Studies indicate that the spending level of a golf tourist is four times higher than that of an average tourist. This means that while the average spending of 15 million traditional tourists is approximately $15 billion, at an average of $1,000 per tourist, a golf tourist spends $4,000. If 400,000 tourists visit the country annually, this could generate $1.6 billion.' He recalled Egypt's successful hosting of an 'Asian Tour' international championship three years ago, which was broadcast in over 45 countries. 'This is the model Egypt can implement to attract golf enthusiasts, especially since Egypt possesses competitive advantages over the cities previously mentioned,' Moustafa stated. 'Tourists will have the opportunity to enjoy unique Egyptian coastal destinations, as well as tourist, archaeological, and heritage sites.' Mohamed Anwar, Vice President of the Egyptian Golf Federation, sought to dispel common misconceptions about the sport. 'Golf is not a sport for the wealthy or elderly as some imagine,' Anwar affirmed. 'The age range of golfers is varied, and it is a game played by children, youth, adults, and women. The stereotype some hold about this sport has changed globally, where the sport was viewed narrowly until the 1990s. That perception has completely changed in the world and must change in Egypt too. Incidentally, most players in Egypt belong to middle-class families, not the wealthy class as some believe.' Adding to the discussion, Egyptian international golfer Captain Amr Abou El Ela noted the growing trend of this type of tourism in the Arab region. 'Dubai has become a major destination for golfers, and Agadir in Morocco and Port El Kantaoui in Sousse, Tunisia, have become among the most important destinations for players in the Arab region,' Abou El Ela said. 'Egypt has a great opportunity to benefit from its tourism assets to attract this type of tourism.'
Daily News Egypt
07-05-2025
- Sport
- Daily News Egypt
Pan Arab Golf Championship for Juniors and Ladies Kicks Off in Egypt's Madinaty, Katameya Dunes
The Pan Arab Golf Championship for Juniors and Ladies commenced on Wednesday at the Madinaty and Katameya Dunes golf courses in Egypt, and will run until Saturday. The event, described as the first and largest Arab golf event of its kind, is also serving as a platform to highlight Egypt's ambitious vision to significantly increase its tourism revenues through golf tourism. Omar Hisham Talaat Moustafa, President of the Egyptian Golf Federation, speaking as a guest on the 'Mal'ab ON' programme with journalist Ibrahim Abdel Gawad, stated that the championship's activities would extend beyond sporting competitions. He explained that the event aims to offer unique experiences for families, featuring exciting shows and a golf festival held on the sidelines. An open invitation was extended to Egyptian families to participate and learn more about the sport. Discussing the golf industry from an investment perspective, Moustafa noted that many countries have successfully leveraged the sport to attract tourists and generate substantial income. He pointed out that Egypt received approximately 15 million tourists last year, with a strategic plan in place to double this figure to 30 million. Moustafa suggested that golf tourism could be a significant component of this plan. He drew comparisons, emphasising that Costa del Sol in Spain boasts over 70 courses, attracting around 1.2 million golf tourists annually. Similarly, the Turkish city of Belek, with 15 courses, welcomes 140,000 golf tourists each year. Moustafa explained that Egypt currently has 25 existing golf courses, which are visited by only 30,000 tourists annually. He stated that these courses have the capacity to host 50,000 rounds of golf per year, yet currently, no more than 10,000 rounds are played annually. He added that Egypt has the potential to attract a specific segment of tourists interested in playing the sport, noting that there is already high demand for such activities. He asserted that Egypt is well-positioned to implement this vision. 'The average duration of a golf tourist's trip is five days, with only two days dedicated to playing, while the remaining time is spent visiting tourist, heritage, and entertainment attractions,' Moustafa said. 'With a simple calculation, hosting an additional 40,000 golf rounds could attract 16,000 tourists per course in Egypt, totalling 400,000 new tourists.' Moustafa further elaborated on the economic benefits: 'Studies indicate that the spending level of a golf tourist is four times higher than that of an average tourist. This means that while the average spending of 15 million traditional tourists is approximately $15 billion, at an average of $1,000 per tourist, a golf tourist spends $4,000. If 400,000 tourists visit the country annually, this could generate $1.6 billion.' He recalled Egypt's successful hosting of an 'Asian Tour' international championship three years ago, which was broadcast in over 45 countries. 'This is the model Egypt can implement to attract golf enthusiasts, especially since Egypt possesses competitive advantages over the cities previously mentioned,' Moustafa stated. 'Tourists will have the opportunity to enjoy unique Egyptian coastal destinations, as well as tourist, archaeological, and heritage sites.' Mohamed Anwar, Vice President of the Egyptian Golf Federation, sought to dispel common misconceptions about the sport. 'Golf is not a sport for the wealthy or elderly as some imagine,' Anwar affirmed. 'The age range of golfers is varied, and it is a game played by children, youth, adults, and women. The stereotype some hold about this sport has changed globally, where the sport was viewed narrowly until the 1990s. That perception has completely changed in the world and must change in Egypt too. Incidentally, most players in Egypt belong to middle-class families, not the wealthy class as some believe.' Adding to the discussion, Egyptian international golfer Captain Amr Abou El Ela noted the growing trend of this type of tourism in the Arab region. 'Dubai has become a major destination for golfers, and Agadir in Morocco and Port El Kantaoui in Sousse, Tunisia, have become among the most important destinations for players in the Arab region,' Abou El Ela said. 'Egypt has a great opportunity to benefit from its tourism assets to attract this type of tourism.'
L'Orient-Le Jour
02-05-2025
- Business
- L'Orient-Le Jour
Syria signs contract with CMA CGM to operate Latakia port for 30 years
The general manager of CMA CGM Levant, Joseph Dakkak, confirmed Thursday to L'Orient-Le Jour the signing of a contract between Syria and the French company to develop and operate the port of Latakia for 30 years. 'CMA CGM has officially signed the contract for the concession of the container terminal at the port of Latakia for a period of 30 years. CMA CGM is committed to modernizing and developing the terminal to meet the growing demand of Syrian importers and exporters and strengthen the region's supply chains,' said Dakkak, general manager of CMA CGM Levant. AFP also reported the information, citing Dakkak and the port director. According to the official Syrian news agency Sana, the contract was signed at the presidential palace in Damascus, in the presence of interim Syrian President Ahmad al-Sharaa, between the General Authority of Land and Maritime Ports and the French company. Port director Ahmed Moustafa told AFP that the contract provides for an investment of 230 million euros: 'The first year, 30 million euros will be injected, then over the following four years, a new quay will be built for a total amount of about 200 million euros.' He emphasized that 'this is the first investment contract with an international company in Syria' since the fall of President Bashar al-Assad in December 2024. The new quay, to be built at the container terminal of the port, will meet 'strict international standards, with a length of 1.5 kilometers and a depth of 17 meters,' Moustafa specified. This infrastructure will allow 'the entry of large ships that currently cannot access the port of Latakia,' he continued. As for the operating revenue of the port, Moustafa indicated that it would first be shared between CMA CGM and the Syrian state, 60 percent for the state and 40 percent for the French company. CMA CGM had already been operating the container terminal of the port since 2009 under a former contract that had been renewed several times before resulting in this long-term agreement, the port director specified.
