Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt, India explore joint investments in gas, mining, petrochemicals    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egyptian pound inches up against dollar in early Thursday trade    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt's TMG 9-month profit jumps 70% on record SouthMed sales    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.



TMG reports Egypt's highest ever real estate sales of EGP 63.9bn until H1 of 2021
Company's contractual sales record EGP 21bn in H1 of 2021, up from EGP 4.4bn in H1 of 2020
Alyaa Stohy Published in Daily News Egypt on 08 - 08 - 2021

The financial indicators of the leading real estate developer, Talaat Moustafa Group (TMG), revealed record contractual sales of more than EGP 21bn during the first half (H1) of 2021, up from EGP 4.4bn during the same period last year, with a growth rate of 375%.
The company's actual sales amounted to EGP 63.9bn in H1 of 2021, compared to EGP 48.5bn for the same period last year.
In a statement to the Egyptian Exchange, TMG affirmed that the previous figures are the highest among real estate development and investment companies, whether actual or contractual sales, which proved the positive growth of the group's revenues and profits in the medium term, as well as during the next five-year period.
The group also reported a 27% growth in total revenues amounting to EGP 5.49bn in H1 of 2021, compared to EGP 4.33bn during the same period of the previous year.
The improvement in revenues was reflected in the company's profitability levels, with the consolidated net profit increasing by 23.16% on an annual basis, recording EGP 869.38m during H1 of 2021, compared to EGP 705.85m in the comparable period of 2020.
TMG launched Noor City last June, as the first smart city in front of the New Administrative Capital. The project achieved record sales of EGP 15bn in just 21 days, the highest ever in the local real estate market.

Clic here to read the story from its source.