Egyptian tycoon Hisham Talaat Moustafa’s TMG inks deal with Savills for ‘The Strip’ project in Madinaty

TMG Holding, a leading real estate holding company led by Egyptian tycoon Hisham Talaat Moustafa, has entered into a strategic partnership with British real estate services provider Savills, to facilitate the development of the ambitious “The Strip” project in Madinaty.

“The Strip” represents a significant commercial endeavor, encompassing 125 expansive commercial units with a total rental area spanning 28,000 square meters.

Aimed at serving the needs of Madinaty residents and the wider eastern regions of Cairo, the development will offer a diverse range of essential services and amenities, catering to various aspects of modern urban living.

Among the array of offerings planned for “The Strip,” visitors can expect an assortment of dining options, including restaurants and cafes, as well as convenient access to banking facilities, fully-equipped gyms, drive-thru ATMs, pharmacies, bakeries, libraries, jewelry and clothing stores, and a host of sports and commercial activities.

Omar Hisham Talaat, TMG’s chief executive for business development, reiterated the company’s commitment to collaborating with international partners to bring renowned brands to Madinaty.

He highlighted TMG’s successful track record in implementing approximately 400,000 square meters of rental areas in previous years and unveiled their ambitious vision of expanding this figure to an impressive 1.2 million square meters over the next decade.

Established in 1974, TMG Holding has emerged as one of Egypt’s leading real estate holdings, with Hisham Talaat Moustafa’s visionary leadership playing a pivotal role in its remarkable transformation.

With a 43.16-percent ownership stake in TMG Holding, Moustafa is widely recognized as one of the wealthiest investors on the Egyptian Exchange and a key figure in the North African real estate market.

Under Hisham Talaat Moustafa’s visionary leadership, TMG achieved a remarkable double-digit percentage surge in profit at the end of the first quarter of its 2023 fiscal year, surpassing the $20-million mark.

The latest agreement with Savills further solidifies TMG Holding’s position as a key player in Egypt’s flourishing real estate market, reflecting its exceptional financial performance and ability to capitalize on the increasing demand for real estate assets.

“The Strip” builds on the resounding success of previous integrated commercial centers and shopping destinations developed by Talaat Moustafa Group, which include the acclaimed Open Air Mall, Craft Zone, East Hub, All Seasons Park in Madinaty, Gateway Avenue, and the Eastern Market in Rehab.