TMG Holding Breaks Sales Records in 5M 2024



Talaat Moustafa Group Holding (TMG Holding) has surpassed expectations in the first five months of 2024, with sales reaching EGP 122bn, a significant increase from the previous year. The acquisition of Legacy Hotels and Tourism Projects Company has boosted the Group’s hospitality sector, with revenues soaring to EGP 3.68bn in the first quarter of 2024. Additionally, the Group’s revenues from recurring income and service activities have seen a robust increase, reflecting strong overall performance.

Furthermore, TMG Holding continues to accelerate the monetization of investment assets, with a recent transaction worth EGP 5.3bn leading to an increase in the market value estimate of the Group’s land portfolio. The Group’s main assets are now valued at approximately EGP 400bn at current market prices. This strategy has opened the door to generate more recurring income through the resale and management of investment lands.

Overall, TMG Holding’s performance in 2024 showcases its resilience and strong investor returns. With strategic acquisitions and a focus on unlocking the true value of its assets, the Group is well-positioned for continued success in the future.