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Talaat Moustafa Group's unit gets approval to develop 5k feddans in Capital Gardens City

Talaat Moustafa Group's unit gets approval to develop 5k feddans in Capital Gardens City
Talaat Moustafa Group recorded net profits of EGP 1.569 billion in nine months
TMG Holding
TMGH
1.36% 6.70 0.09

Cairo – Mubasher: The Egyptian cabinet approved a request from the Ministry of Housing, Utilities, and Urban Communities to enter into agreement with a subsidiary of Talaat Moustafa Group Holding (TMG Holding).

The company will develop 5,000 feddans in Capital Gardens City under a sale agreement with the New Urban Communities Authority (NUCA), according to a statement on Thursday.

During the first nine months of 2020, Talaat Moustafa Group recorded net profits of EGP 1.569 billion, up from EGP 1.312 billion in the corresponding period a year earlier.