Talaat Mostafa Group (TMG) is one of the leading and largest real estate developers in Egypt. TMG is the sole company to develop fully integrated cities in the country.
As for its assets in Egypt, TMG fixed assets, led by the real estate developer Hisham Talaat Mostafa, is estimated at EGP 23.8bn, making the company Egypt’s top real estate developer in terms of assets size. The Group is followed by Palm Hills with total fixed assets of EGP 15.7bn, then SODIC with EGP 8.1bn and Madinat Nasr for Housing and Development (MNHD) with EGP 6.2bn.
Being the biggest fixed assets of the Group and the most famous, the value of TMG brand value reached EGP 13.1bn, or more than 55% of its fixed assets, thanks to the tremendous achievement by the Group under the leadership of Hisham Talaat Mostafa, TMG Managing Director.
As for its capital, Talaat Mostafa Group is the pioneering real estate developer; its capital reached EGP 20.6bn, followed by SODIC with total capital of EGP 6.2bn. This huge capital provides TMG with the required financial liquidity to implement its mega projects and meet its clients’ needs.
In 2019, TMG revenues grew by EGP 10.9bn at 28.2% increase compared to 2018. The profits of its real estate projects, managed by Hisham Talaat Mostafa, represent 68.8% of the revenues, while 31.2% come from hotels and activities with periodical revenues such as shopping malls, clubs, administrative and business buildings.
Moreover, TMG profits surged by 30.8% to reach EGP 1.7bn by the end of last year; thus topping other real estate companies. It is followed by MNHD after its profits grew to EGP 1.08bn at 22.2% increase.
Palm Hills profits hiked to EGP 811.7m up from EGP 805.6m a year earlier. However, the profits growth did not exceed 0.75%, driven by high administrative expenses that reached EGP 963.5m at 27.4% increase, in addition to high interests of land instalments that were doubled to reach EGP 249.6m.
Back to TMG Group, it succeeded in reducing its non-current liabilities to EGP 6.4bn against EGP 7.2bn; as the loans increased slightly by 1.6% only and its long-term liabilities were undermined to 3.2bn, or by 23.8%.
On the other hand, TMG current liabilities went up to EGP 59.4bn; however, the increase of the clients’ down payments for TMG projects surged to EGP 33.8bn against EGP 24.1bn marking an increase of 40.2%.