Talaat Moustafa mulls getting 500 feddans for urban project in Upper Egypt

Talaat Moustafa Group, Egypt’s largest listed property developer, is studying obtaining 500 feddans in Western Assiut’s Nasser City to execute a new urban project there, said an official on Tuesday

Nasser City Authority offered the company a land plot covering over 280 feddans, but the real estate developer asked for a 500-feddan land instead, head of Nasser City Authority Yasser Abdullah further told Mubasher.

During the first half of the year, the company posted net profit worth 852.23 million Egyptian pounds ($52.3 million), up from 774.2 million pounds during the same half in 2018.