By: Abdullah Bedeir

Cairo – Mubasher: Revenues of real estate companies listed on the Egyptian Exchange (EGX) grew by 5.49% year-on-year during the first quarter of 2019, according to statistics conducted by Mubasher.

From January to March, revenues achieved by real estate firms totalled EGP 6.62 billion, compared to EGP 6.26 billion in the year-ago period.

Talaat Moustafa Group Holding (TMG Holding) topped real estate firms in terms of revenues with EGP 2.24 billion in Q1-19, followed by Palm Hills Development Co with EGP 958 million, Sixth of October for Development and Investment (SODIC) with EGP 941.2 million, and Madinet Nasr Housing and Development (MNHD) with EGP 634.2 million.

During the three-month period ended 31 March, Emaar Misr for Development achieved revenues of EGP 566.6 million, while El Kahera Housing and Porto Group Holding recorded revenues of EGP 452.6 million and EGP 417.8 million, respectively.

Other real estate firms reported revenues of EGP 406.5 million in Q1-19.

Translated by: Zeinab Adel