Talaat Moustafa Group (TMG) tops Egyptian companies in Forbes’ Global 50 Most Powerful Real Estate Companies in Middle East and North Africa list 2021.
Forbes magazine said that Talaat Moustafa Group’s new “Noor” project includes around 120,000 housing units and a 5-star hotel, in addition to green spaces, facilities and shopping centers.
Forbes added that TMG has total assets of $ 8 billion, has built more than 120,000 homes and has a land portfolio of 74 million square meters.
Talaat Mostafa Holding Group reached its highest ever sales level of over EGP 27.5 billion in the first nine months of 2021. TMG has raised its sales forecast to EGP 30 billion for 2021.
The group also achieved, until September 30 of this year, a balance of actual unproven sales of EGP 63.3 billion, the highest realized and unproven sales among Egyptian real estate companies.
Talaat Moustafa Group’s total revenue in the first nine months of 2021 increased 9% year-on-year to approximately EGP 11.31 billion.
Talaat Moustafa placed tenth in the Forbes list, while Palm Hills Real Estate Development Company came in 21st, Memaar Al-Morshedy Company placed 24th, and Sixth of October Development and Investment Company (SODIC) s’ is ranked 36th.
Madinet Nasr Housing and Development Company ranked 38th, Orascom Real Estate Development Company 42nd and Dorra Real Estate Company 50th.