TMG sells 50 % of Madinaty Malls At EGP 500 Mln

Gehad El Sawafta, Vice Executive Officer of Talaat Moustafa Group Holding SAE (TMGH.CA), revealed that the company has succeeded in selling around 50 % of its commercial malls in Madinaty during May and June with total value of about EGP 500 million, Almal newspaper reported.

He added that, the company succeeded in increasing its sales in the first half of 2012 to reach EGP 2.4 billion, compared to EGP 1.1 billion in the first half of 2011.

Furthermore, he pointed out that the company will focus within the coming period to deliver the remaining units.