Egypt, Qatar sign MoU to expand cooperation in energy    Mohamed El-Gawsaky named head of Egypt's investment authority for one-year term    Al-Sisi highlights Egypt's sporting readiness during 2026 World Cup trophy tour    Al-Sisi pledges full support for UN desertification chief in Cairo meeting    Egypt opens Braille-accessible library in Cairo under presidential directive    Abdelatty urges calm in Yemen in high-level calls with Turkey, Pakistan, Gulf states    Madbouly highlights "love and closeness" between Egyptians during Christmas visit    Egypt targets 30 million annual tourists following record 19 million arrivals    Egypt welcomes record 19 mln tourists in 2025, outpacing global growth    Egypt confirms safety of citizens in Venezuela after US strikes, capture of Maduro    Egypt's NFSA now oversees local food market starting 1 January    Egyptian pound edges up against dollar in early Sunday trade    US forces capture Maduro in "Midnight Hammer" raid; Trump pledges US governance of Venezuela    Port Said health facilities record 362,662 medical services throughout 2025    Nuclear shields and new recruits: France braces for a Europe without Washington    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt completes restoration of 43 historical agreements, 13 maps for Foreign Ministry archive    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Talaat Moustafa raise investments of Madinaty and Al Rehab to EGP 455bn
Project in New Administrative Capital to be ready in 3 months: Hisham Talaat Moustafa
Mostafa Fahmy Published in Daily News Egypt on 13 - 11 - 2017

Hisham Talaat Moustafa, the head of Talaat Mostafa Group Holding Company (TMGH), estimated the total investments in Madinaty and Al Rehab at EGP 455bn.
He said, in remarks to the press, that total investments into Madinaty will reach EGP 420bn.
The businessman added that his group aims to complete the development of the project which is located on an area of 8,000 feddans within 10 to12 years.
He explained that the group is working on the final stages of Al Rehab project, which has investments totalling EGP 30-35bn.
He noted that the group has made good revenues in the past nine months, following its adoption of innovative solutions and offering real estate projects that better fit the capabilities of Egyptians.
Moreover, he said that the group is preparing to offer its units in the New Administrative Capital within three months, and will rely on self-financing.
The group has signed a contract to buy a land of 500 feddans in the new capital, worth EGP 4.4bn, which will be paid in installments spanning nine years.
In addition, he noted that the company will take advantage of this plot to develop an integrated urban project over a period of seven years.
He pointed out that the partnership of TMGH with Prince Alwaleed bin Talal to implement several tourism projects was just a study, and did not end in anything formal.
He noted that the company exited the partnership in 2010, adding that when the prince visited Cairo in August, he proposed new investments that remained only at the proposal stage and did not result in anything concrete, due to the circumstances in Saudi Arabia.
Alwaleed bin Talal announced in August that he intends to invest in joint ventures with TMGH at a value of up to $800m.

Clic here to read the story from its source.