TMG says 2017 sales highest since 2008, MNHD gets approval for Taj City

Talaat Moustafa Group Holdings announced what it says are its highest sales since 2008, saying in a note sent to the bourse that sales for 2017 clocked in at EGP 13.11 bn. The sales figure shows a 100.1% increase from 2016’s tally of EGP 6.55 bn. TMG says the sales figure is the largest since 2008 and includes EGP 3.63 generated from commercial and administrative sales.

In other news from the sector, the master plan for Taj City has received approval from the Prime Minister’s office, Madinet Nasr Housing and Development (MNHD) announced. The approval allows the company to launch the non-residential components of the Taj city project, including a hotel area, MNHD says.