Egyptian Billionaire Hisham Talaat Moustafa Leads Tmg To Record 843.3 Million Revenue In 2024

Talaat Moustafa Group TMG Holding, under Egyptian billionaire Hisham Talaat Moustafa, has reinforced its position as Egypts top developer with a record-breaking performance in 2024. The Cairo-based real estate giant has reported a remarkable financial performance for its full 2024 fiscal year, marked by a substantial increase in revenue and profitability.

According to its financial statement , TMGs revenue surged by 50 percent year-over-year, climbing from EGP 28.4 billion 562.78 million in 2023 to EGP 42.67 billion 844.86 million in 2024. The companys growth is attributed to the continued success of its real estate ventures and the booming hospitality sector.

Its hospitality segment experienced exponential growth, with revenue rising from EGP 3.54 billion 70 million in 2023 to EGP 11.5 billion 227.36 million in 2024, marking a 225 percent increase. Meanwhile, real estate development revenue climbed 14 percent from EGP 21.58 billion426.55 million to EGP 24.5 billion 485.58 million, highlighting sustained demand for premium residential and commercial properties.

This revenue surge translated into an exceptional net profit increase of 332 percent, reaching EGP 14.47 billion 286.40 million in 2024, compared to EGP 3.34 billion 66.28 million the previous year, reflecting TMGs strong financial performance and profitability.

Under Hisham Talaat Moustafas leadership, TMG has strategically expanded its footprint, including a major entry into Saudi Arabias lucrative real estate market, leveraging its decades of expertise in developing integrated urban communities.