Talaat Moustafa Group Holding (TMG) recorded a 23% year-on-year increase in net profit for the first half of 2026 to EGP 9.9bn, as consolidated revenues rose 24% to EGP 30.2bn, the Egyptian developer said in a statement on Wednesday.
Talaat Moustafa Group stated that its results were supported by strong revenue growth in the real estate development sector, solid performance in the hospitality sector, and continued growth in recurring income streams.
Contracted sales jumped 27% year-on-year in the second quarter to EGP 170.1 bn, while total new contracted sales for the entire first half reached EGP 219.1 bn, representing a 4% increase.
“The first-half results reflect the strength of the group’s business model and continued strong demand for its project portfolio,” said Hisham Talaat Moustafa, Chief Executive Officer and Managing Director of TMG.
He added that Talaat Moustafa Group will focus in the coming period on accelerating development and delivery across its main projects, expanding hospitality assets, raising their efficiency, and enhancing recurring income sources. In parallel, the group is continuing to implement regional expansion plans in Saudi Arabia, the Sultanate of Oman, and Iraq, seeking to replicate the integrated urban community development model it applies in the Egyptian market.
Revenues from the real estate development sector rose 34% year-on-year in the first half to EGP 17 bn, supported by ongoing construction work and increased deliveries. Talaat Moustafa Group delivered approximately 1,459 units during the period—a 131% year-on-year increase—across its main projects, including Madinaty and Celia. The sector also benefited from the start of revenue recognition for the Banan project, the group’s first development in Saudi Arabia.
The SouthMed project recorded contracted sales of EGP 93.9 bn during the first half of 2026, including 87 bn EGP in the second quarter alone. This brought cumulative sales for the project since its launch to about EGP 500bn by the end of June 2026. Meanwhile, “The Spine” project achieved contracted sales of 33.8 bn EGP following its launch in the second quarter. The group is developing “The Spine” within Madinaty as a mixed-use project and integrated knowledge city aimed at becoming an urban centre for East Cairo and the New Capital.
Talaat Moustafa Group hospitality sector revenues grew 4% year-on-year to EGP 7.46bn in the first half despite regional developments, with foreign currency hotel sector revenues reaching about $151.6m in the first six months. The group plans to open four new facilities in coming years, increasing its total number of hotel rooms and suites to about 5,000 from around 3,500 currently. Simultaneously, the group is working to improve the efficiency of its hotel assets, increase revenue from suites and luxury accommodation categories, and strengthen pricing power.
Other recurring revenues increased 24% year-on-year in the first half to EGP 5.7 bn, driven by expansion in leasing activities, management fees, sports clubs, and services. This segment includes commercial leasing, retail, sports club operations, and integrated community services.
Talaat Moustafa Group expects “The Spine” project to support growth in this area over coming years, estimating that upon reaching full maturity, the project will generate recurring revenues exceeding 50 bn EGP annually. Additional momentum is also expected with the launch of commercial and retail components within the Banan project in Saudi Arabia and projects in the Sultanate of Oman.
