Talaat Moustafa Group
The Talaat Moustafa Group (TMG), one of the largest conglomerates in Egypt, was founded by the late Talaat Moustafa and is headed by his son, Hisham Talaat Moustafa. The group is known for the development of integrated communities, including mixed-use real estate and hospitality projects across Egypt. It holds a land bank of 74 million square meters in addition to the 36 million square meters already developed since its inception 50 years ago.
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| Talaat Moustafa Group | |
Native name | مجموعة طلعت مصطفى القابضة |
| Type | Société Anonyme Égyptienne |
| EGX: TMGH EGX 30 Component | |
| ISIN | EGS691S1C011 |
| Industry | Agriculture, Construction, Manufacturing, Real Estate |
| Founded | 1974 |
| Founder | Talaat Moustafa |
| Headquarters | , |
Area served | Egypt |
Key people |
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| Products |
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| Revenue |  E£ 11.7 billion (2019) |
| E£2.817 billion (2019) | |
| E£ 2.71 billion (2019) | |
| Total assets | E£103.887 billion (2019) |
| Total equity | E£31.126 billion (2019) |
| Owner | Talaat Moustafa Family |
Number of employees | 100,000+ (2019) |
| Website | talaatmoustafa |
The Talaat Moustafa family, which includes the daughter of Talaat Moustafa, Sahar Talaat Mostafa,[1] owns 51% of the group's total stock; the rest is owned by Egyptian and Arab investors. Comprising 23 companies, the group is estimated to be worth 26.7 billion Egyptian pounds at the current market capitalization and employs more than 12,000 people along with 60,000 additional workers at its various project sites. In November 2007, the company's shares were made public. The construction branch is managed by Moustafa's eldest son, Tarek Talaat Moustafa, who is also the former head of the Egyptian Lower Parliament's housing committee. The agricultural branch and its Lamar Egypt brand are managed by his second eldest son, Hani Talaat Moustafa. The real estate branch is managed by his youngest son and former member of the Egyptian Shura Council, Hisham Talaat Moustafa.
Projects
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. [2]
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 1.5 billion Egyptian Pounds to complete a 200 room Four Seasons in the historic city.[3]
References
- El-Din, Gamal Essam (April 23, 2016). "Pro-Sisi bloc sweeps elections of Egypt parliament's 25 committees". Ahram Online. Retrieved 30 October 2016.
- "Mubashar English". Mubashar.
- "Enterprise". Enterprise.