Cairo – Mubasher: Talaat Moustafa Group Holding has achieved property sales of EGP 20.4 billion during 2019 when compared to EGP 21.3 billion in 2018.

The sales included EGP 5.4 billion worth of income from non-residential units which recorded a growth rate of 86% when compared to 2018, according to a bourse disclosure on Sunday.

Despite the slowdown in the Egyptian real estate market during the second half of 2019, Talaat Moustafa Group registered a property sale value not exceeding 4% or EGP 900 million when compared to a year earlier.

The leading developer further noted that it sold EGP 473 million worth of apartments and villas with outstanding services; these properties will be developed to be part of the classy residential community in east Madinaty.

Talaat Moustafa disclosed that it maintains the “Optimistic” outlook for property sales over the year 2020, expecting a sales value similar to what has been achieved in 2019.