Hisham Talaat Moustafa’s TMG stake increases by $321 million, surpasses $1 billion
Hisham Talaat Moustafa’s stake, amounting to 890,566,601 shares, has gained EGP29.46 billion ($321.54 million) in market value since the beginning of the year.
Hisham Talaat Moustafa’s stake, amounting to 890,566,601 shares, has gained EGP29.46 billion ($321.54 million) in market value since the beginning of the year.
Moustafa outlined a vision to attract 30 million annual visitors to Egypt, leveraging the country’s rich cultural heritage and untapped potential.
TMG Holding's SouthMED and Benan projects fuel $9.4 billion in sales, showcasing the strong demand for luxury coastal living in Egypt and Saudi Arabia.
This decline follows a previous gain of $89.6 million recorded between Sept. 16 and 29, when Moustafa’s stake rose from $1.25 billion to $1.33 billion.
This recovery follows a brief decline of EGP6.03 billion ($124.2 million) between July 9 and Aug. 1
The company’s financial health remains robust, maintaining a net cash position of EGP23.9 billion ($501 million).
This follows a $59.19 million gain between May 15 and 23, when the market value of his shares climbed from EGP51.4 billion ($1.1 billion) to EGP54.1 billion ($1.16 billion).
This significant upswing not only solidifies Moustafa’s status as one of the most influential investors on the EGX, but also elevates him to the ranks of Africa’s billionaires.
The development project builds on TMG’s successful track record in Africa and the Middle East.