By: Abdullah Bedeir

Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) is in negotiations with the Ministry of Housing’s New Urban Communities Authority (NUCA) to purchase a land plot, the company’s CEO and managing director Hisham Talaat Mostafa said.

Talks over obtaining a land plot in Nasser City in west Assiut are expected to be finalised within a month, the CEO told reporters on the sidelines of a press conference on Monday.

Previously, head of Nasser City Authority Yasser Abdullah told Mubasher that Talaat Moustafa Group submitted a request to purchase a 500-feddan land plot in the city.

It is worthy to mention that during the first nine months of 2019, the company’s net profits rose to EGP 1.37 billion from EGP 1.24 billion in the year-ago period, including minority shareholders’ rights.