Latest news with #TMGHolding
Zawya
2 days ago
- Business
- Zawya
Egypt-listed developer Madinet Masr initiates regional expansion with UAE subsidiary
Egypt-based real estate developer Madinet Masr announced it has begun the process of establishing a wholly owned subsidiary in Dubai, UAE for managing its real estate activities outside Egypt. 'Initiating the process to establish 'Cities of the World' marks a significant milestone in executing our strategic goal of regional expansion,' said Abdallah Sallam, President and CEO of Madinet Masr. He added that the step positions the company at the forefront of regional real estate development beyond its home market. Madinet Masr also announced its intention to appoint Mohamed Lashien, Senior Vice President of Product Development, as Managing Director of "Cities of the World" once the subsidiary is officially established. A growing number of Egyptian developers, listed and private alike, are expanding their footprint with new project launches across the Gulf and broader Middle East. Last week, EGX-listed TMG Holding signed an agreement with the Iraqi government for a $17 billion mixed-use project in Baghdad, following major project signings in Saudi Arabia and Oman. Egyptian private developer Tatweer Misr told Zawya Projects last month that it is currently studying new investment opportunities in Saudi Arabia and Oman, with a project annoucement likely this year. In April 2025, Naguib Sawiris-owned ORA Developers launched Bayn, a 4.8 million square metre coastal community in the UAE in Abu Dhabi. Last year, the company was awarded a contract to develop a new mega residential city 'Ali Al-Wardi' in southeast of Baghdad. In January 2025, Al Ahly Sabbour Developments announced the launch of Wadi Zaha, the first neighbourhood in its project in Sultan Haitham City, Oman, with a total investment of 90 million Omani rials. (Writing by Marwa Abo Almajd; Editing by Anoop Menon) (
Zawya
26-05-2025
- Business
- Zawya
Egypt's TMG Holding signs MoU for $17bln mixed-use project in Iraq
Egypt's Talaat Moustafa Group Holding (TMG Holding) announced on Sunday that a subsidiary of its Saudi joint venture, TMG Saudi Arabia, has signed a Memorandum of Understanding (MoU) with Iraq's National Investment Commission (NIC) for a large-scale real estate project in the southwest of Baghdad. According to a company statement, the MoU covers the development of a 14 million square metre (sqm) mixed-use project expected to contain around 46,000 units. TMG Holding anticipates total project sales of $17 billion, with recurring income estimated at $1.5 billion per annum once the development is completed. In April, the EGX-listed company had disclosed that it is negotiating with Iraqi authorities for a mixed-used development in Bahgdad. The Iraq MoU follows recent milestones for TMG Saudi Arabia, including the launch of Banan City in Riyadh spanning 10 million sqm with estimated sales of $12 billion. Since its launch in 2024, Banan City has recorded SAR 6 billion ($1.6 billion) in sales. TMG Holding also secured 4.9 million sqm of land in Oman in May 2025 for two new mixed-use developments, which is expected to generate $4.7 billion in sales and $54.8 million in annual recurring income. The statement said the Iraq deal adds to the Group's growing regional land bank, which now totals 29 million sqm across Iraq, Saudi Arabia, and Oman. Including Egypt, TMG Holding's total land bank stands at 125.9 million sqm. The company's regional expansion strategy focuses on exporting its Egyptian integrated city model to key Middle Eastern markets. Combined sales from the three projects in Iraq, Oman, and Saudi Arabia are expected to reach $33 billion over their development lifespans, with a post-tax profit margin of 12–17 percent. The portfolio's recurring income assets are projected to generate $1.7 billion annually, with a profit margin between 75–80 percent. The company noted that its off-plan sales model—used successfully in Egypt—will reduce upfront financing needs for its regional projects. It added that TMG Saudi Arabia will serve as a key driver for future growth across Saudi Arabia and the broader Arab region. TMG Saudi Arabia is 60 percent owned by TMG Holding and 40 percent by Saudi-based AlMuhaidib Group. TMG's foray was preceded by Egypt's ORA Developers, which was awarded a contract last year to develop a new mega residential city 'Ali Al-Wardi' in southeast of Baghdad, according to a February 2024 report by Zawya Projects. (Writing by Marwa Abo Almajd; Editing by Anoop Menon) (
Daily News Egypt
25-05-2025
- Business
- Daily News Egypt
TMG signs Iraq MoU for 14 million sqm project, expands Middle East footprint
Talaat Moustafa Group Holding (TMG) has signed a Memorandum of Understanding (MoU) to develop a large-scale, 14m sqm mixed-use project in Iraq, a move that will increase its land bank in regional markets to 29 million sqm. The Egyptian property developer announced that the MoU was concluded on Sunday, May 25, 2025. This followed a disclosure on April 28, 2025, regarding ongoing negotiations with Iraqi authorities for a new mixed-use sustainable city. The signing ceremony was held under the patronage and in the presence of Mohammed Shia' Al Sudani, Prime Minister of Iraq, Haider Makiya, Chairman of the Iraqi National Investment Commission, and Hisham Talaat Moustafa, CEO and Managing Director of TMG Holding. The MoU precedes an anticipated final agreement. The development is planned for a 14m sqm site in South-West Baghdad and is expected to comprise around 46,000 mixed-use units. TMG Holding stated the project will replicate the community model it has implemented in Egypt and Saudi Arabia, offering quality housing, infrastructure, and services, with an emphasis on sustainability and smart technologies. This agreement in Iraq will bring TMG Holding's total land bank in the region, spanning Saudi Arabia, Oman, and Iraq, to 29 million sqm. Including projects under development in Egypt, the group's total land bank will reach 125.9 million sqm, positioning TMG Holding as one of the top three developers publicly listed on regional capital markets, the company said. The expansion into Iraq, and into Oman earlier in May 2025, is part of TMG Holding's strategy to build a significant regional development presence in the Arab World. The company outlined that its regional portfolio now provides access to a land bank of 29 million sqm across Saudi Arabia, Oman, and Iraq. The total number of units across the three projects in these countries is estimated at approximately 81,000. Furthermore, estimated sales from these three secured projects are projected to amount to $33 bn over the lifespan of the developments, with an expected sales profit margin ranging from 12% to 17% post-tax. The estimated annual revenues from the potential portfolio of recurring income assets are anticipated to reach $1.7bn, with an expected profit margin ranging from 75% to 80%. TMG Holding detailed key milestones in its regional expansion strategy, which commenced in 2024. A significant step was the launch of TMG Saudi Arabia through the establishment of Talaat Moustafa Group Saudi Company for Real Estate Development (TMG Saudi Arabia) in September 2023. TMG Holding owns 60% of this entity, with AlMuhaidib Group holding the remaining 40%. TMG Holding described AlMuhaidib as a strong partner and a significant investment group in Saudi Arabia with a track record in supporting regional companies, citing investments in firms such as ACWA Power, Riyadh Cables Group, and Miahona through Vision Invest. Following its establishment, TMG Saudi Arabia secured and launched Banan City, a 10m sqm mixed-use development east of Riyadh. This project is estimated to generate sales of $12bn. From its launch in 2024 until March 31, 2025, Banan City generated sales of SAR 6bn (equivalent to $1.6bn), which the company noted was one of the highest sales figures by a private sector developer in Riyadh. Furthering its regional growth, in May 2025, TMG Saudi Arabia secured a 4.9 million sqm land bank in Oman across two mixed-use projects. These are expected to generate $4.7bn in sales over their lifespan and $54.8m in annual recurring income. The recent Iraq market entry was formalised on May 25, 2025, when a fully owned subsidiary of TMG Saudi Arabia entered into the MoU to develop the 14m sqm mixed-use project in Iraq. This project is expected to generate total sales of $17bn and recurring income of $1.5bn per annum upon completion. TMG Holding stated it had been studying this opportunity for the past year. The company believes that given the recovery of the Iraqi economy and the supply gap for quality residential offerings, it is well-positioned to develop this project. TMG Holding said its new regional developments secured under TMG Saudi Arabia are structured to utilise an off-plan self-financing model, which is not expected to require significant upfront investments before their launch. The company further stated that TMG Saudi Arabia has been established with management, resources, and talent from TMG Holding and local markets, leveraging TMG Holding's vision, brand recognition, and track record. TMG Saudi Arabia is intended to be a main pillar of value creation for TMG Holding and will continue to assess growth opportunities, serving as a launchpad for further expansion across Saudi Arabia and the Arab World. TMG Holding's leadership will remain focused on creating shareholder value, similar to its achievements with ICON, its hospitality platform, which it described as a market-leading player in Egypt's premium hospitality segment. TMG Holding noted that ICON's total consolidated revenues reached $255m in 2024. The expansion into regional markets, the company added, further enhances its foreign exchange generation capabilities and recurring income portfolio, helps hedge investor returns against potential local currency fluctuations, and strengthens its position in providing real estate and tourism products and services in the broader Middle East region.
Egypt Today
25-05-2025
- Business
- Egypt Today
TMG signs Iraq MoU for 14 million sqm project, expands Middle East footprint
Talaat Moustafa Group Holding (TMG) has signed a Memorandum of Understanding (MoU) to develop a large-scale, 14m sqm mixed-use project in Iraq, a move that will increase its land bank in regional markets to 29 million sqm. The Egyptian property developer announced that the MoU was concluded on Sunday, May 25, 2025. This followed a disclosure on April 28, 2025, regarding ongoing negotiations with Iraqi authorities for a new mixed-use sustainable city. The signing ceremony was held under the patronage and in the presence of Mohammed Shia' Al Sudani, Prime Minister of Iraq, Haider Makiya, Chairman of the Iraqi National Investment Commission, and Hisham Talaat Moustafa, CEO and Managing Director of TMG Holding. The MoU precedes an anticipated final agreement. The development is planned for a 14m sqm site in South-West Baghdad and is expected to comprise around 46,000 mixed-use units. TMG Holding stated the project will replicate the community model it has implemented in Egypt and Saudi Arabia, offering quality housing, infrastructure, and services, with an emphasis on sustainability and smart technologies. This agreement in Iraq will bring TMG Holding's total land bank in the region, spanning Saudi Arabia, Oman, and Iraq, to 29 million sqm. Including projects under development in Egypt, the group's total land bank will reach 125.9 million sqm, positioning TMG Holding as one of the top three developers publicly listed on regional capital markets, the company said. The expansion into Iraq, and into Oman earlier in May 2025, is part of TMG Holding's strategy to build a significant regional development presence in the Arab World. The company outlined that its regional portfolio now provides access to a land bank of 29 million sqm across Saudi Arabia, Oman, and Iraq. The total number of units across the three projects in these countries is estimated at approximately 81,000. Furthermore, estimated sales from these three secured projects are projected to amount to $33 bn over the lifespan of the developments, with an expected sales profit margin ranging from 12% to 17% post-tax. The estimated annual revenues from the potential portfolio of recurring income assets are anticipated to reach $1.7bn, with an expected profit margin ranging from 75% to 80%. TMG Holding detailed key milestones in its regional expansion strategy, which commenced in 2024. A significant step was the launch of TMG Saudi Arabia through the establishment of Talaat Moustafa Group Saudi Company for Real Estate Development (TMG Saudi Arabia) in September 2023. TMG Holding owns 60% of this entity, with AlMuhaidib Group holding the remaining 40%. TMG Holding described AlMuhaidib as a strong partner and a significant investment group in Saudi Arabia with a track record in supporting regional companies, citing investments in firms such as ACWA Power, Riyadh Cables Group, and Miahona through Vision Invest. Following its establishment, TMG Saudi Arabia secured and launched Banan City, a 10m sqm mixed-use development east of Riyadh. This project is estimated to generate sales of $12bn. From its launch in 2024 until March 31, 2025, Banan City generated sales of SAR 6bn (equivalent to $1.6bn), which the company noted was one of the highest sales figures by a private sector developer in Riyadh. Furthering its regional growth, in May 2025, TMG Saudi Arabia secured a 4.9 million sqm land bank in Oman across two mixed-use projects. These are expected to generate $4.7bn in sales over their lifespan and $54.8m in annual recurring income. The recent Iraq market entry was formalised on May 25, 2025, when a fully owned subsidiary of TMG Saudi Arabia entered into the MoU to develop the 14m sqm mixed-use project in Iraq. This project is expected to generate total sales of $17bn and recurring income of $1.5bn per annum upon completion. TMG Holding stated it had been studying this opportunity for the past year. The company believes that given the recovery of the Iraqi economy and the supply gap for quality residential offerings, it is well-positioned to develop this project. TMG Holding said its new regional developments secured under TMG Saudi Arabia are structured to utilise an off-plan self-financing model, which is not expected to require significant upfront investments before their launch. The company further stated that TMG Saudi Arabia has been established with management, resources, and talent from TMG Holding and local markets, leveraging TMG Holding's vision, brand recognition, and track record. TMG Saudi Arabia is intended to be a main pillar of value creation for TMG Holding and will continue to assess growth opportunities, serving as a launchpad for further expansion across Saudi Arabia and the Arab World. TMG Holding's leadership will remain focused on creating shareholder value, similar to its achievements with ICON, its hospitality platform, which it described as a market-leading player in Egypt's premium hospitality segment. TMG Holding noted that ICON's total consolidated revenues reached $255m in 2024. The expansion into regional markets, the company added, further enhances its foreign exchange generation capabilities and recurring income portfolio, helps hedge investor returns against potential local currency fluctuations, and strengthens its position in providing real estate and tourism products and services in the broader Middle East region.
Trade Arabia
21-05-2025
- Business
- Trade Arabia
TMG Holding to develop $4.7bn real estate projects in Oman
Leading Egyptian developer Talaat Moustafa Group Holding (TMG Holding) said it has entered into an agreement with Oman's Ministry of Housing and Urban Planning to develop two large-scale projects in the sultanate at an investment of RO1.8 billion ($4.7 billion). The agreement marks TMG Holding's first venture into Oman and aligns with the company's regional expansion strategy focused on developing integrated smart cities across the Middle East. Announcing the key projects, TMG Holding said the first one will cover 2.7 million sq m in Sultan Haitham City, west of Muscat. Strategically located near Muscat International Airport, the mixed-use development will include villas, apartment buildings, a 190,000 sqm social and sports club, and 140,000 sqm of commercial and service areas. The second development will span 2.2 million sq m in Al Shakheekhit, a coastal area west of Muscat and near Beit Al Baraka Palace. It will boast luxury seafront villas connected to a lagoon, a luxury hotel, residential units, a yacht marina, and chalets along a 1,760-m-long beachfront on the Gulf of Oman. The project will also include the 215,000 sqm Al Naseem Heritage Park, a large green space with views across the development. The deal was signed by Omani Minister of Housing and Urban Planning, Dr Khalfan Al Shueili and TMG Holding Chairman Hisham Talaat Moustafa in the presence of senior officials. Both the projects will be carried out by the group's Oman-based development arm - Talaat Moustafa Group Muscat for Real Estate Development. TMG Holding aims to deliver around 12,900 residential units across the two projects, including approximately 9,200 conventional and serviced apartments. The developments will be executed concurrently, it stated. "Both these projects aim to replicate TMG Holding's successful integrated community model established in Egypt through its flagship developments Madinaty, Noor, and Al Rehab, as well as its recent expansion into Saudi Arabia," said a company spokesman.
