June 10, 2021

TMG negates launching new real estate company

ArabFinance: Tallat Moustafa Group (TMG) denied news reports on launching a third real estate development company, the company said in a statement to the Egyptian Exchange on June 9th.

The real estate developer denied reports about establishing a new real estate firm, named Rawasi, in partnership with the National Bank of Egypt (NBE) and Banque Misr.

On June 8th, NBE and Banque Misr, in collaboration with Talaat Moustafa Group (TMG), established a new real estate joint venture (JV).

The new company’s paid-in capital amounted to EGP 200 million.

The company secured an EGP 9 billion joint loan from both banks to develop assets in TMG’s Madinaty compound.

This is the second real estate JV TMG has set up with NBE and Banque Misr.

TMG is an Egypt-based company engaged in real estate investment activities. The company establishes and develops hotels and touristic and residential projects in Egypt.


Categories : real estate

Finance & Economy

EGX30 to test its strength by breaching 10,000 points level this week

2021-06-13 07:00:00

The Egyptian Exchange (EGX) aims to test its ability to rise above the 10,000 points level, and continue trading above this level"...
Read More

M.B Engineering's standalone profit drop...
June 13, 2021
Egypt denies price hike of 90 strategic ...
June 13, 2021

Latest News

real estate

Madbouly asserts importance of developin...
June 13, 2021
TMG negates launching new real estate co...
June 10, 2021
Aldar Properties asks to extend period t...
June 9, 2021