Talaat Moustafa Group
Egyptian conglomerate From Wikipedia, the free encyclopedia
Talaat Moustafa Group Holding SAE (TMGH), is one of the largest listed real estate development companies in Egypt. It was founded in 2007 as a holding company of pre-existing companies, some of which were founded in the 1970s by the late Talaat Moustafa, and publicly listed on the Egyptian Exchange in 2007.[1] The group is known for the development of large gated communities, as well as a chain of hotels, where it is one of the top ten listed real estate developers in Egypt in terms of profits, as well as land, holding over 16,000 acres in Greater Cairo, the largest of any developer by far.[1] Currently, TMG Holding is listed as number 8 in Forbes' Top 50 Listed Companies in Egypt 2023.[2]
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| Talaat Moustafa Group Holding | |
Native name | مجموعة طلعت مصطفى القابضة |
| Company type | Société Anonyme Égyptienne |
| EGX: TMGH EGX 30 Component | |
| ISIN | EGS691S1C011 |
| Industry | Construction, Real Estate |
| Founded | 2007 |
| Founder | Talaat Moustafa and Bin Laden families |
| Headquarters | , |
Area served | Egypt |
Key people |
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| Products |
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| Revenue | E£19.870 billion (2022) |
| E£3.404 billion (2022) | |
| E£2.304 billion (2022) | |
| Total assets | E£162.718 billion (2022) |
| Total equity | E£35.893 billion (2022) |
| Owner | Talaat Moustafa family |
Number of employees | 100,000+ (2019) |
| Website | talaatmoustafa |
Ownership
As of December 2021, the Talaat Moustafa Group’s largest shareholder at 43% was TMG for Real Estate and Touristic Investments SAE,[1] a company jointly held by the Talaat Moustafa Family (Tarek, Hani and Hisham Talaat Moustafa, 60%).[3] With stakes through another company (Alexandria Construction Company SAE) brothers Tarek, Hisham and Hany ultimately own 34% of TMGH’s stock. Hisham Talaat Moustafa has been group CEO since 2017 till present, and had previously held that position until 2008. He has also served as a member of the Shura Council (Upper House). Brother Tarek Talaat Moustafa is group Chairman since 2008 and a former member of parliament.
The remaining identifiable owners are Abdelmoniem Alrashed, owning 7% of the group through the UAE based company, Rimco EGT Investment LLC. The rest are mostly investment funds, led by the Norges Bank who owned 3.3% of TMGH’s shares in 2021.[4]
Projects
Summarize
Perspective
Cities and communities
TMG is behind some of Egypt's largest community developments, including the New Cairo cities of Madinaty, El Rehab, Celia, and the recently launched, Noor. Other developments include May Fair in El Sherouq City, El Rabwa in Sheikh Zayed City, Virginia Beach in the North Coast of Alexandria, and El Radwa El Khadraa in El Agamy. In all, TMG boasts a population of over 1 million residents across its projects, ranking it the highest in the world for a private developer.
Hotels and resorts
TMG's hospitality endeavors include Four Seasons Nile Plaza, Four Seasons Sharm El Sheikh, Four Seasons San Stefano, and Kempinski Nile Hotel.
The Four Seasons Nile Plaza is widely considered the finest and most secure hotel in Cairo, offering presidential-level security and accommodations to visiting heads of state and top government officials.
Following an announcement in 2017 for the expansion of the Four Seasons Sharm El Sheikh, upon completion, the hotel will be the largest Four Seasons Resort in the world.[5]
In 2016, TMG announced plans to build a Four Seasons hotel in its New Cairo property Madinaty, part of an 8,000 acres (3,200 ha) development and expansion in New Cairo. Plans to build a Four Seasons hotel in Luxor were made in 2008 but put on hold in the wake of the Egyptian Revolution. In 2020, TMG announced plans to continue the project in Luxor, providing financing of E£1.5 billion to complete a 200-room Four Seasons in the historic city.[6]
References
External links
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