Talaat Moustafa Group Holding (TMGH) has demonstrated robust financial performance and strategic growth in 2024, solidifying its position as a leading real estate developer in Egypt.

TMGH 2024 11 27 08 18 29 4c330 January 15, 2026

Stock Performance:

• As of November 21, 2024, TMGH’s stock price was EGP 58.61, reflecting a 142.69% increase since the beginning of the year, But If we looked Closely… the stock is not moving much since early May After a mid-term high raly, TMGH is currently trading within a SideWays range, Respecting support level around EGP 50, but with a sold resistance around EGP 64.

• For New Investors; It is recommended to consider buying near EGP 55 Support level With Selling Targets around EGP 60 Resistance Range.

• Investor Considerations:
TMGH’s significant financial growth and strategic initiatives in 2024 underscore its strong market position and commitment to expanding its portfolio. Investors should monitor the company’s ongoing projects and financial disclosures for insights into future performance.

Financial Performance:

• First Quarter 2024: TMGH reported total revenues of EGP 6.79 billion, marking a 53% year-over-year increase. Net profit after tax and minority interest reached EGP 2.39 billion, a 220% surge compared to the same period in the previous year.

• First Half 2024: The company achieved revenues of EGP 17.02 billion, up from EGP 10.7 billion in the first half of 2023. Net profit soared to EGP 6.36 billion, reflecting a 310% year-over-year increase.

• Nine Months Ending September 30, 2024: TMGH reported sales of EGP 27.96 billion, up from EGP 18.41 billion in the same period the previous year. Net income for this period was EGP 6.35 billion, compared to EGP 2.68 billion a year earlier.

Strategic Developments:

• SouthMED Project: In July 2024, TMGH launched the SouthMED development on Egypt’s Mediterranean coast, with an investment of $21 billion. The project spans 23 million square meters and is expected to generate approximately $35 billion in sales. Initial bookings reached about EGP 60 billion within 12 hours of pre-launch sales.

• Hospitality Expansion: TMGH’s hospitality arm, ICON, acquired a 39% stake with management rights in Legacy Hospitality, encompassing seven distinctive hotels located in Cairo, Alexandria, Luxor, and Aswan. This strategic move aims to enhance the company’s recurring income streams.

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Sources

Routers, TMG Holding, EGX.com.eg, mubasher.info