TMG Posts EGP 219.1 Billion in H1 Sales as SouthMED and The Spine Power Record Second Quarter
Talaat Moustafa Group Holding recorded EGP 219.1 billion in contracted sales during the first half of 2026, with a record second quarter underscoring continued demand across the developer’s portfolio in Egypt and the Gulf.
The figure compares with EGP 211 billion in the same period of 2025, representing growth of around 3.8% year on year. The stronger performance was concentrated in the second quarter, when sales reached approximately EGP 170 billion, up nearly 28% from EGP 133 billion a year earlier and marking the group’s strongest quarterly sales performance to date.
Hisham Talaat Moustafa, CEO and Managing Director of TMG Holding, said the results reflect sustained demand for the group’s integrated communities and mixed-use developments, as well as the resilience of its diversified business model.
SouthMED Remains the Main Sales Engine
The North Coast’s SouthMED project remained the group’s largest sales contributor during the period, generating approximately EGP 94 billion in the first half of 2026. Around EGP 87 billion of that total was booked during the second quarter alone.
Cumulative SouthMED sales have now reached around EGP 500 billion since the project was launched in July 2024, cementing its position as one of the most commercially significant developments in TMG’s portfolio.
SouthMED spans roughly 23 million square metres on Egypt’s Mediterranean coast west of Alexandria and was originally positioned as a large-scale integrated tourism and residential destination with villas, retail, hospitality, golf and marina components.
The Spine Adds EGP 34 Billion After May Launch
The group also received a strong contribution from The Spine, which launched in May 2026 and generated about EGP 34 billion in sales within its first weeks on the market.
The project has emerged as another important source of sales growth for TMG, complementing established communities such as Madinaty and Noor while broadening the group’s exposure to mixed-use development.
Together, SouthMED and The Spine accounted for a substantial share of the group’s second-quarter momentum, alongside continued sales from its broader portfolio in Egypt, Saudi Arabia and Oman.
Gulf Expansion Adds Another Growth Layer
TMG’s growth strategy is increasingly extending beyond Egypt.
The group is developing Banan, its first integrated urban community in Saudi Arabia, across around 10 million square metres, as part of a wider regional expansion strategy that also includes Oman.
That regional diversification is becoming increasingly important as TMG seeks to build a sales pipeline that is less dependent on a single geography while maintaining its dominant position in Egypt’s large-scale community development market.
Sales Momentum Feeds a Larger Backlog
The first-half sales performance adds to an already sizeable backlog built over recent years, giving the group visibility over future revenue recognition as projects progress through construction and delivery.
TMG’s strong contracted sales have been a key feature of its recent financial performance, with SouthMED in particular driving a significant expansion in unrecognized sales over the past two years.
The group also entered 2026 with strong operating momentum. First-quarter revenue rose 39% year on year to EGP 13.1 billion, supported by growth in both real estate development and hospitality.
For the second half of the year, the central question will be whether TMG can sustain the pace established in Q2 as SouthMED continues to mature, The Spine moves deeper into its sales cycle, and the group’s regional projects contribute a larger share of contracted sales.