Egypt’s Talaat Moustafa sales rise 62% in 2018

Egypt’s real estate developer, Talaat Moustafa Group Holding (TMG) reported on Wednesday a 62 percent increase in its sales to 21.3 billion Egyptian pounds ($1.2 billion) at the end of December 2018.

Talaat Moustafa said in a statement that it had achieved unprecedented rates to increase its sales in Egypt and Middle East to around 90, 0000 units since its operation in the real estate market.

Sales of housing units reached 18.3 billion pounds in 2018 up from 9.5 billion pounds in 2017.

The company posted sales worth 12 billion pounds from its fully-fledged flagship Celia in the country’s New Administrative Capital last June.

In 2017, sales from commercial and administrative units reached about 2.9 billion pounds.