Talaat Moustafa Group Holding's profits increased 3.37 times during the first nine months of this year, reaching EGP 9.06 billion, compared to EGP 2.69 billion in the same period of 2023.

The company's real estate activity revenues increased during the nine months to EGP 16.05 billion, compared to EGP 13.52 billion in the same period of the previous year.

Talaat Moustafa Group announced that the "Banan" project achieved record sales of EGP 53 billion until November 6, exceeding the one-year sales target.

The group said in a statement that thousands of customers have booked in the Bannan City project, located on an area of 10 million square meters northeast of the capital, Riyadh, in the Kingdom of Saudi Arabia, since its launch last May in cooperation with the National Housing Company NHC.

Talaat Moustafa Group has started construction work in Banan City, adhering to the timetables and construction plans to deliver units to owners according to the scheduled dates, so that the city becomes ready for life from the first day owners receive their units.

This comes just days after Madinaty project received two delegations from Saudi Arabia and Iraq to learn about the group's pioneering experience in developing smart and sustainable cities with integrated services. Talaat Moustafa Group announced achieving record sales of EGP 470 billion during the current year, including EGP 280 billion (equivalent to about $ 5.6 billion) for its new project "South Med" on the northwest coast, which is equivalent to the total sales of the 9 largest real estate companies in the Egyptian market.

Hisham Talaat Moustafa, CEO and Managing Director of the group, also revealed that the "South Med" project achieved a historic number in the volume of units sold, which amounted to 12,000 residential units, 20% of which were sold to the global market, which is a testament to the trust it enjoys and the great demand for its products from inside and outside Egypt.

The group said that the strong sales momentum witnessed by the group during 2024 is a testament to the strength of its brand and its solid track record among its customer base of more than 140,000 high-spending customers.