Latest news with #TalaatMoustafaGroupHolding
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Egypt's TMG H1 profit jumps as sales hit record EGP 211bn
Talaat Moustafa Group Holding (TMG), Egypt's largest listed real estate developer, on Sunday reported a 69% jump in its first-half consolidated net profit after tax, driven by record real estate sales and strong growth in its hotel and services sectors. The company's consolidated net profit after tax rose to roughly EGP 8.1bn ($169m) in the first six months of 2025, up from EGP 4.8bn in the same period last year, the company said in a statement. Total revenues climbed 43% to around EGP 24.39bn. TMG's real estate sales reached a record EGP 211bn in the first half, a growth of over 59% from the EGP 133bn sold during the same period last year. The company said this was achieved without launching any new projects during the period. In a statement to the Egyptian Exchange (EGX), TMG said its performance was significantly boosted by its SouthMED project on the North Coast. The development generated EGP 106bn in sales and reservations during the first half, bringing its total cumulative sales to EGP 384bn in the year since its launch in July 2024. 'The figures reflect the brand's strength and customer confidence both at home and abroad, underscoring continued strong demand for the Group's projects,' the company's management said. The group's hotel sector recorded total revenues of EGP 7.17bn, a 39% increase from the same period last year. Recurring income and services generated revenues of EGP 4.6bn, a growth of 68%. TMG's backlog of contracted but undelivered sales reached EGP 363.7bn, a 48% increase from last year. The company said this backlog reflects a stable financial position and will be recognised as revenue upon delivery of units. Looking at the independent statements, net profit—excluding the results of subsidiary companies—came in at EGP 275m, a 4.3% increase from the first half of 2024. The company's board of directors, presided over by CEO and Managing Director Hisham Talaat Moustafa, approved the financial and operational performance report on Sunday.
Daily News Egypt
2 days 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
4 days ago
- Business
- Daily News Egypt
CI Capital sets TMG share target price at EGP 152, sees 184% upside
CI Capital has set a target price of EGP 152 for the shares of Talaat Moustafa Group Holding (TMG), representing a 184% upside from its current price of EGP 53.3, citing the developer's 'meticulously executed strategic transformation.' In a research note, the investment bank said its valuation reflects the value of the company's commercial and residential projects, including the South Med development, as well as its expansion into Saudi Arabia and planned projects in Iraq and Oman. The valuation also incorporates TMG's hospitality portfolio. CI Capital said the current market price for TMG's stock does not reflect the full value of the group's projects in Egypt and abroad, particularly the growth in foreign currency revenues from its regional expansion with the launch of the Banan project in Saudi Arabia and the acquisition of seven hotel companies with a portfolio of 5,000 rooms. The report noted that TMG's cross-border expansion is supported by strong demand, government backing, and a self-financing model, which reduces risk and allows for attractive rates of return. Ongoing hotel renovations and efforts to improve contracts with hotel operators are also expected to boost financial efficiency, the note added. The investment bank forecast that TMG would achieve contractual sales of EGP 431bn in the current year, with about 85% of that coming from the Egyptian market. It projected that the group's projects outside Egypt would contribute more significantly to total sales from next year, accounting for an estimated 27% of the total, up from about 15% expected this year. CI Capital also projected a three-year compound annual growth rate (CAGR) of 24% for TMG's revenue, driven by its residential and hospitality sectors, with an average gross profit margin of approximately 37%.
Daily News Egypt
07-07-2025
- Business
- Daily News Egypt
Egypt's Talaat Moustafa Group H1 sales jump 59% to EGP 211bn
Talaat Moustafa Group Holding (TMG), Egypt's largest listed real estate developer, announced contractual sales of EGP 211bn for the first half of 2025, a 59% increase compared to the same period last year. The company said the figure represents its highest-ever half-year sales and reflects growing demand for its projects both inside and outside Egypt. In a statement to the Egyptian Exchange, TMG attributed the strong performance to customer confidence in its product quality, flexible marketing and sales mechanisms, and its strong financial position. Sales were led by its projects 'Madinaty,' 'Noor,' 'Privado,' and 'Celia' in East Cairo, the 'SouthMed' project on the North Coast, and the 'Banan' project in Saudi Arabia, highlighting the diversity of the group's portfolio. Talaat Moustafa Group added that the performance opens new prospects for expansion and reinforces its plan to enter promising regional markets, including Oman and Iraq. It said the aim is to continue growth and capitalise on rising demand for high-quality real estate in the region. Talaat Moustafa Group continues to reinforce its position as the largest developer in the Egyptian market, with a strategic focus on sustainable growth and increasing value for both shareholders and customers, the company said.
Egypt Today
17-06-2025
- Business
- Egypt Today
TMG climbs to 4th in Forbes' Top 50 Public Companies in Egypt' list on surging sales, assets
Talaat Moustafa Group Holding (TMG) has climbed to fourth place on the Forbes Middle East list of 'Top 50 Public Companies in Egypt for 2025', following a substantial increase in sales and assets. The real estate developer was also named the leading company in its sector for the year. The company advanced two places to secure the fourth position. The ranking reflects growth that saw the company's sales rise to $837m from $593m, while net profits increased to $284m from $70m. Total assets grew to $7bn from $4.2bn. TMG's performance was supported by its operations as Egypt's largest real estate developer, with a land portfolio of 125.9 million square metres across Egypt, Saudi Arabia, Iraq, and Oman. In 2024, the group's sales tripled to $10bn, driven by the launch of the 'Banan' project in Saudi Arabia and the 'SouthMed' project in Egypt. The 'SouthMed' project has generated $7bn in sales since its launch in July 2024. In 2025, TMG continued its regional expansion with projects in Iraq and Oman, increasing its international land portfolio to 29 million square metres. The company said it anticipates generating approximately $33bn in sales from its projects across the three regional markets. The performance of Egyptian companies listed in the 'Top 50' showed broad growth over the past year. According to the report, the total assets of these companies grew by 33% to $118.8bn by the end of December 2024, a figure equivalent to over 34% of Egypt's GDP. Combined sales for the 50 firms increased by 34.5% to $35.6bn, and net profits rose by 45% to $6.5bn. Their collective market capitalisation reached $35.1bn as of market close on 25 April 2025, a 19.6% increase from the previous year's $29.4bn. The banking and financial services sector had the largest representation on the list with 17 companies, which together accounted for $13.5 billion in sales and $78.4bn in total assets. The industrial, real estate, and construction sectors followed, each with seven companies on the list. According to the publication, its research team gathered financial data from the Egyptian Exchange to compile the ranking. Companies were classified using four equally weighted metrics: sales, total assets, and net profits for the 2024 fiscal year, along with market capitalisation based on market close on 25 April 2025. Companies with equal scores received the same rank. Firms that had not disclosed their audited 2024 financial statements by 25 April 2025 were excluded from the list. The report used foreign currency exchange rates from 25 April 2025.
