Talaat Moustafa Group Holding (TMG), Egypt's largest listed real estate developer, on Sunday reported a 69% jump in its first-half consolidated net profit after tax, driven by record real estate sales and strong growth in its hotel and services sectors. The company's consolidated net profit after tax rose to roughly EGP 8.1bn ($169m) in the first six months of 2025, up from EGP 4.8bn in the same period last year, the company said in a statement. Total revenues climbed 43% to around EGP 24.39bn. TMG's real estate sales reached a record EGP 211bn in the first half, a growth of over 59% from the EGP 133bn sold during the same period last year. The company said this was achieved without launching any new projects during the period. In a statement to the Egyptian Exchange (EGX), TMG said its performance was significantly boosted by its SouthMED project on the North Coast. The development generated EGP 106bn in sales and reservations during the first half, bringing its total cumulative sales to EGP 384bn in the year since its launch in July 2024. "The figures reflect the brand's strength and customer confidence both at home and abroad, underscoring continued strong demand for the Group's projects," the company's management said. The group's hotel sector recorded total revenues of EGP 7.17bn, a 39% increase from the same period last year. Recurring income and services generated revenues of EGP 4.6bn, a growth of 68%. TMG's backlog of contracted but undelivered sales reached EGP 363.7bn, a 48% increase from last year. The company said this backlog reflects a stable financial position and will be recognised as revenue upon delivery of units. Looking at the independent statements, net profit—excluding the results of subsidiary companies—came in at EGP 275m, a 4.3% increase from the first half of 2024. The company's board of directors, presided over by CEO and Managing Director Hisham Talaat Moustafa, approved the financial and operational performance report on Sunday.
