A news report announced the total profit for 20 developers in the last 9 months, with profits reaching 448 billion EGP a 95% increase from last year, and marked 145 billion EGP only for North Coast projects. The report has also shown the stability and strength of the Egyptian real estate market, and people have been using this market as a protection shield during inflation.
The report added that the third quarter witnessed booming sales and profits for most of the big real estate companies. TMG was the first on the list, making a profit of 85 billion EGP, marking an increase of 305%. At the same time, ORA followed TMG with sales of 47.5 billion EGP, followed by Palm Hills Developments with 32 billion EGP, Mountain View with a profit of 28.9 billion EGP, and Emaar Misr with 27 billion EGP.
