TMG Holding invests EGP 35 bn in new capital project

Talaat Moustafa Group (TMG) Holding has invested EGP 35 bn in its 500 feddan project in the new administrative capital, the company said in a statement to the EGX (pdf). TMG’s subsidiary, the Arab Company for Projects and Urban Development, had purchased the land for EGP 4.4 bn in April 2017. Separately, TMG has completed the designs for its EGP 6 bn Four Seasons hotel in Madinaty New Cairo and expects to break ground on the project within three months.