Rana Mamdouh _ Shares of Talaat Moustafa Group Holding (TMG) jumped during the first hour of trading on the Egyptian Exchange today, Wednesday, following the announcement of an agreement with the government to develop 4 mega projects with targeted investments of approximately EGP 11 trillion, marking a notable momentum for the stock at the start of the session.
The stock recorded a gain of approximately 6.27% to reach EGP 90.11 during the first hour of trading, compared to an opening price of EGP 84.79.
Execution value on the stock reached approximately EGP 613.672 million, through the trading of 6.72 million shares, according to published market data.
Projects Cover a Total Area Exceeding 37 Million Square Meters .. Contributing to Generating Tax Revenues of Approximately EGP 2.4 Trillion
Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding, announced the signing of an agreement with the State to develop 4 mega mixed-use projects, with total targeted investments reaching around EGP 11 trillion, spanning a total area exceeding 37 million square meters. This will contribute to generating estimated direct and indirect tax revenues of EGP 2.4 trillion, and creating around 6 million direct and indirect job opportunities.
The Agreement Includes Developing Strategic Land along the Strip Connecting the Suez Road and the Madinaty Project
The agreement includes developing strategic land located on the strip connecting the Suez Road to the Madinaty project, achieving integration with the existing Madinaty project. The project spans an area of approximately 5 million square meters, with total targeted investments estimated at EGP 3.2 trillion, and direct and indirect tax proceeds exceeding EGP 700 billion.
The project aims to establish an integrated destination comprising commercial, administrative, entertainment, and residential activities.
The Agreement Covers Developing an Integrated Urban Project in Alexandria over 11.3 Million Square Meters
The agreement also covers the development of an integrated urban project in the heart of Alexandria, over an area of approximately 11.3 million square meters, with targeted investments estimated at EGP 1.7 trillion, and estimated direct and indirect tax proceeds of around EGP 375 billion.
The project aims to create an integrated urban community modelled after Talaat Moustafa Group's successful experiences in Al Rehmaniya (Al Rehab), Madinaty, and Noor projects, presenting an integrated urban model that fulfills the needs of Alexandria Governorate and adds a new residential and investment destination.
The Agreement Includes an Industrial, Real Estate, Logistics, and Tourism Project in Abu Qir over 10 Million Square Meters
The agreements include an industrial, real estate, logistics, and tourism project in Abu Qir. Located adjacent to the new Abu Qir Port, the project is being developed into a multi-use global economic destination over an area of approximately 10 million square meters, with targeted investments estimated at EGP 5 trillion, and direct and indirect tax proceeds estimated at EGP 1.1 trillion. The project combines industrial, logistical, real estate, and tourism activities through an integrated development model connecting the port, free zone, industrial complexes, and commercial and residential activities.
The Agreement Covers Developing a New Project on Strategic Land in the North Coast over 10.4 Million Square Meters
The agreement also encompasses developing a new project on strategic land in the North Coast, within the stretch from KM 147 to KM 151, similar to the Southmed project, spanning an area of approximately 10.4 million square meters, with targeted investments estimated at EGP 970 billion, and estimated direct and indirect tax revenues of around EGP 215 billion.
Hisham Talaat noted that the success achieved by the Southmed project since its launch in 2024 serves as a driver to replicate the model through a new project that adds economic and urban value to the North Coast, enhancing the area's attractiveness for investment and tourism.
