Talaat Mustafa invests LE 35B in New Administrative Capital

CAIRO – 13 March 2018: Talaat Mustafa Group Holding (TMG Holding) said that the expected investment in the company’s project in the New Administrative Capital on a land of 50 feddans is worth LE 35 billion, according to a filing to the Egyptian Exchange (EGX).

The statement added that the project is expected to be launched for sale within three months.

According to Four Seasons Hotel in Madinty city, the statement revealed that the company completed the design of the project and will start the implementation within three months with an investment of LE 6 billion.

TMG Holding recorded profits amounting to LE 1.38 billion in 2017, compared to LE 828.9 million in 2016.

Talaat Moustafa Group Holding is a public company, listed on the Egyptian Exchange (EGX) since November 2007.

TMG Holding operates within the real estate sector focusing on real estate development. It has 13 subsidiaries operating across Egypt.

TMG Holding is based in Giza, Egypt and was established in February 2007.
The Company’s capital is LE 20.63 billion that are dividend on 2.06 billion shares with a nominal value of LE 10 per share.