Talaat Mostafa Holding Company is gearing up to launch its exciting new “South Mid” project on the North Coast. Encompassing a vast area of 23 million square meters, this project will be developed using a low-risk financial model.
The group anticipates its robust sales performance to continue throughout the year, fueled by the upcoming South Mid launch and the unwavering high demand in Saudi Arabia. Notably, Talat Mostafa Group achieved a record-breaking sales figure of 122 billion Egyptian pounds, a significant increase compared to the 45 billion pounds from the same period last year. This reflects a remarkable 2.7-fold year-on-year growth, with 37.1 billion Egyptian pounds in sales stemming from their new project in Saudi Arabia, translating to roughly 2,500 units sold so far.
Since implementing their clearly defined new strategy in 2017, the group has witnessed a tenfold surge in annual sales. This upward trend is further bolstered by their strategic land bank expansion, accumulating 54 million square meters of prime land under favorable terms. This ensures sustained business growth for the next two decades and beyond. The land bank expansion includes acquiring land for the Noor project (21 million square meters), Bonan in Saudi Arabia (10 million square meters), and most recently, the agreement to develop the soon-to-launch South Mid project on the North Coast (23 million square meters). Consequently, the group’s total core land area in Egypt and Saudi Arabia has reached a staggering 107 million square meters.
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