Latest news with #TalaatMoustafa
Zawya
26-05-2025
- Business
- Zawya
TMG signs Iraq deal for 14mln sqm project, expands Middle East footprint
Egypt - 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 divs 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. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
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.
Zawya
19-05-2025
- Business
- Zawya
Egypt: TMG Holding's Q1 2025 consolidated profits up 54.5% YoY
Arab Finance: The consolidated net profits attributable to the owners of Talaat Moustafa Group Holding (TMG Holding) increased by 54.53% to EGP 3.693 billion in the first quarter (Q1) of 2025 from EGP 2.390 billion, as per the financials. The earnings per share (EPS) jumped to EGP 1.61 in Q1 2025 from EGP 1.04 in Q1 2024, while the real estate development revenues climbed to EGP 3.804 billion from EGP 3.475 billion. Non-consolidated net profits after tax amounted to EGP 216.771 million in the first three months of 2025, up from EGP 206.840 million. Total standalone revenues increased to EGP 260.738 million from EGP 252.490 million, whereas the EPS went up to EGP 0.10 from EGP 0.09. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
26-03-2025
- Business
- Egypt Today
Strategic Partnership between Talaat Moustafa Group and Alameda in the field of High-Quality Medical and Healthcare
Talaat Moustafa Group and Alameda Group, a leading international hospital operator, have forged a strategic partnership to develop and manage premium, high-quality medical and healthcare services across Talaat Moustafa's projects. The agreement was signed by Mr. Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Holding Group, and Dr. Fahad Khater, Chairman of Alameda Company, in the presence of several leaders from both companies. Under this agreement, Alameda will manage and operate a new, internationally accredited hospital in Madinaty, TMG's flagship urban community. This project serves as the inaugural venture in a series of similar collaborations within TMG's developments in Egypt and beyond in the field of high-quality medical and healthcare services. Scheduled to open in 2027, the hospital, with a projected investment exceeding 5 billion Egyptian pounds ($100 million), aims to deliver unparalleled healthcare services, attract medical tourism, and establish itself as a regional healthcare hub. The 200-bed facility will provide comprehensive medical services, aligning with TMG's strategy to provide all integrated services to the residents of its projects, ensuring a sustainable quality of life for its 1.2 million residents and the broader East Cairo population of over 4.5 million. It is worth mentioning that EFG Hermes served as the exclusive financial advisor for the deal. Mr. Hisham Talaat highlighted that the partnership with Alameda Group reflects the TMG's commitment to collaborating with leading companies in various fields to integrate cutting-edge technologies and meet evolving customer needs. He stated that the operation of Madinaty Hospital represents an investment that reinforces the proven success of the Group's diverse urban projects, and expands the integrated service portfolio available to Madinaty residents. The city is well-equipped with services such as comprehensive medical centers and clinics, emergency ambulance services, administrative facilities such as bank branches, business and company offices, civil government services such as real estate registry, civil registry, post office, passport office, traffic department, educational services, sports and religious institutions, transportation options, and commercial and recreational amenities. Commenting on this partnership, Dr. Fahad Khater, Chairman of Alameda Healthcare Group, praised Alameda's role as both investor and operator of the new hospital in Madinaty. He noted Alameda's confidence in this distinguished partnership with TMG that will set new benchmarks for integrated healthcare services in Egypt and the whole region. Dr. Khater added that this cooperation will result in the sustainable development of communities in terms of healthcare services according to the best international standards. He further stressed that this agreement aligns with the group's core mission of facilitating access to high-quality healthcare services for all segments of society. He also indicated that the Madinaty hospital is the first of many joint projects aimed at providing distinguished medical services planned for TMG's communities in Egypt, Saudi Arabia, and beyond. Talaat Moustafa Group is a prominent real estate and tourism developer, and one of the largest integrated institutions in Egypt and the Middle East. Over the past 55 years, it has successfully established self-sufficient, integrated-service cities and urban communities across Egypt. Alameda Group, a leading healthcare brand and Egypt's largest private healthcare provider, operates a wide network of leading hospitals and specialized medical centers, including Al Salam International Hospital and Dar Al Fouad Hospital, the German Rehabilitation Center, and others. Alameda provides high-quality healthcare services and works to expand its health services and invest locally and regionally.
