With Profits Exceeding EGP 15 Billion and EGP 290 Billion in Sales.. Talaat Moustafa Group Achieves Record 9-Month Results
Talaat Moustafa Group Holding (TMG) announced a major financial and operational surge during the first nine months of 2026, as its consolidated net profit after tax rose by 19% to reach EGP 15.008 billion, compared to EGP 12.632 billion during the same period last year—an increase of EGP 2.376 billion. This growth was supported by improved operational profitability and higher other revenues, despite increased financing costs.
Strong Revenue Growth and Exceptional Q3 Performance
The Group's consolidated revenues jumped by 24.1% year-on-year (YoY) to reach EGP 47.553 billion, up from EGP 38.317 billion. Operating profit also climbed by 24.7% to EGP 19.609 billion, while gross profit rose by 17.1% to record EGP 14.501 billion.
For the third quarter alone, consolidated net profit increased by 12.5% to reach EGP 5.062 billion, while consolidated revenues grew by 24.7% to record EGP 17.361 billion, driven by a 31.5% rise in real estate development revenues and a 54.6% surge in Q3 contracted sales to EGP 71 billion.
Real Estate Development Drives Growth with Record Project Sales
The real estate development sector accounted for approximately 77% of the Group's total revenue growth, after its revenues surged by 33.2% to EGP 28.637 billion. This was fueled by accelerated construction rates and the delivery of 2,724 units—a 70% increase over the previous year—including the commencement of delivering 200 units in the "Noor" project, alongside EGP-equivalent revenues of $282 million from the "Banan" project in Saudi Arabia.
Total contracted sales reached EGP 290.1 billion during the nine-month period, marking a 13% growth. The "SouthMED" project led the sales with EGP 130.7 billion, followed by "The Spine" with EGP 34.3 billion since its launch in April 2026, and "Noor" with EGP 30.5 billion, in addition to international sales exceeding EGP 31.2 billion to 1,049 foreign buyers.
Surge in Hospitality and Recurring Income
The Group further strengthened the diversification of its income streams, with recurring revenues reaching EGP 18.9 billion—up 12%—representing 40% of total revenues and nearly 50% of total profit. Hospitality revenues increased by 5.6% to EGP 10.422 billion, accompanied by a 12% jump in EBITDA to EGP 5.39 billion, driven by an increase in the average daily room rate to EGP 12,450. Meanwhile, other recurring income revenues (community services, leasing, and sporting clubs) grew by 22.3% to reach EGP 8.495 billion.
Record Cash Liquidity and EGP 11 Trillion Expansions
The Group enjoys a solid financial position, with cash and cash equivalents reaching EGP 80 billion (including $571.4 million), and a net cash balance of EGP 62.7 billion against total debt of EGP 17.3 billion, while unbilled sales rose to EGP 491.2 billion.
On the expansion front, the Group signed framework agreements with the Egyptian government in October 2026 to develop four strategic projects with planned investments of EGP 11 trillion, expanding its land bank by 29% to reach 165 million square meters. Regionally, TMG continues its expansion in Saudi Arabia through a preliminary agreement with "ROSHN" to develop 55,000 units in Riyadh, achieving EGP 13.1 billion in sales for "Banan," and EGP 3.7 billion for the "Jood" and "Yamal" projects in Oman, alongside a plan to expand its luxury hotel capacity to 5,000 rooms.
Hisham Talaat Moustafa: Our Diversified Business Model Ensures Sustainable Growth
Hisham Talaat Moustafa, CEO and Managing Director of the Group, affirmed that the achieved results reflect the strength of TMG's integrated business model combining real estate development with the continuous operation of destinations and hospitality. He noted that the Group's commitment to timelines and accelerated construction in "SouthMED" and "Noor," alongside the four new projects and regional expansion, paves the way for a new phase of sustainable growth and enhanced foreign currency revenues.
