About $4.47 billion…an increase in Talaat Moustafa Group sales in the first half of 2026 | economy

Talaat Mostafa Holding Group said on Sunday that it achieved strong sales during the first half of 2026, amounting to 219.1 billion Egyptian pounds (about 4.47 billion dollars), compared to 211 billion Egyptian pounds (4.3 billion dollars) during the same period in 2025.

The group stated, according to what was reported by Reuters, that these results reflect “continued strong demand for its diverse portfolio of integrated communities and mixed-use projects in Egypt, the Kingdom of Saudi Arabia, and the Sultanate of Oman.”

She explained that the second quarter of this year witnessed sales amounting to 170 billion Egyptian pounds ($3.47 billion), compared to 133 billion Egyptian pounds ($2.7 billion) during the second quarter of 2025.

The group said that the sales growth was thanks to the strong performance of the “South Med” project on the North Coast, which achieved about 94 billion Egyptian pounds ($1.9 billion) during the first half of 2026, including about 87 billion Egyptian pounds ($1.7 billion) during the second quarter of this year.

Cumulative sales

The group added that cumulative sales since the launch of the project in July 2024 amounted to 500 billion pounds (about 10.2 billion dollars).

She stated that the “The Spine” project, which the group launched last May, achieved sales of approximately 34 billion Egyptian pounds ($0.69 billion).

The Egyptian government said that “The Spine” project, a huge urban project east of Cairo, is being implemented in partnership between Talaat Mostafa Group and the National Bank of Egypt in New Cairo, with investments exceeding 1.4 trillion pounds ($27 billion).

As for the “Benan” project in Saudi Arabia, the group said that it recorded sales of about 6.8 billion Egyptian pounds (0.14 billion dollars) during the first half of the year, bringing cumulative sales to 101 billion pounds (about 2.06 billion dollars) since the launch of the project in May 2024.

A huge real estate project in Iraq

Talaat Mustafa Group’s announcement of an increase in its sales in the first half of 2026 comes after it announced at the beginning of last June that it had obtained an investment license from the National Investment Commission in Iraq to implement an integrated real estate project in the capital, Baghdad, with expected cumulative sales of $18.8 billion.

The group said in a statement at the beginning of last June that the project will include about 43,000 housing units capable of accommodating approximately 250,000 people upon completion. It also includes non-residential building spaces that include commercial and administrative assets, and will be located in a strategic location within the financial and economic city in Baghdad, near Baghdad International Airport.

The group seeks to expand its activity outside the Egyptian market, as it now has projects in Saudi Arabia, the Sultanate of Oman, and Iraq, in light of the increasing demand for residential and service projects.