Cairo - Mubasher: Talaat Moustafa Group Holding (TMG Holding) has recorded a 95% surge in its real estate sales to around EGP 32.4 billion in 2021, compared to EGP 16.6 billion in 2020, marking unprecedented levels in Egypt's real estate sector.
The group's unearned sales revenues reached EGP 63 billion by the end of 2021, representing around 14,500 units set to be delivered within the upcoming five years, according to a recent press release.
Meanwhile, the group generated hotel revenues of EGP 1.27 billion last year, up 104% from EGP 622 million in 2020.
It is noteworthy to mention that during the first half (H1) of 2021, the company logged net profits of EGP 869.38 million, up 23.16% year-on-year (YoY) from EGP 705.85 million.
