In view of the recent growth in the real estate sector in Egypt, the Norwegian Sovereign Fund has strengthened its investments in Egyptian real estate companies during the past year, with total investments in 7 Egyptian real estate companies amounting to $ 96.5 million, the Talaat Moustafa Holding Group had the largest share of them.
The group achieved 7% growth in revenue, to reach 11.7 billion pounds during the same period, compared to 10.9 billion pounds in the same period.
The overall profit for the fiscal year ending December 31, 2019 increased to EGP 4.5 billion, compared to about EGP 4 billion for the comparable year.
On the independent business level, the financial statements of the Talaat Moustafa Group showed that the net profit after tax increased by 52% to reach 471.1 million pounds compared to 309.8 million pounds in the corresponding year.
Revenues achieved 22% growth during the same period to reach 1.1 billion pounds compared to 948.7 million pounds in the comparative period.
20.4 billion EGP in real estate sales for Talaat Moustafa Group in 2019