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FINANCIAL NEWS
Talaat Moustafa posts 16.7% slump in 2009 profit
28 Feb 2010
(MENAFN) Egypt’s biggest developer by market value, Talaat Moustafa Group (TMG), posted $219 million net profit last year, marking a 16.7 percent decline over a year earlier, Reuters reported.
TMG’s full year revenue was $874 million. The Cairo-based firm said that it plans to launch its first project in Saudi Arabia within the coming three months in order to tap the country’s young, wealthy buyers.
The company’s Finance Director, Jihad Sawaftah, said that TMG wants 40 percent of its real estate sales to come from Saudi Arabia by 2014, and is steering towards the hotel business in a bid to diversify away from Egyptian home sales.
More News
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BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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