{"id":562804,"date":"2021-06-07T04:00:14","date_gmt":"2021-06-07T04:00:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/"},"modified":"2021-06-07T04:00:14","modified_gmt":"2021-06-07T04:00:14","slug":"construction-of-tmgs-egp-500-bn-nour-city-has-begun","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/","title":{"rendered":"Construction of TMG\u2019s EGP 500 bn Nour City has begun"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Con<\/strong><sup><\/sup><strong>struction of Talaat Moustafa Group\u2019s EGP 500 bn Nour City development has begun<\/strong>, after Housing Minister Assem El Gazzar and TMG CEO Hisham Talaat Moustafa yesterday laid the foundation stone, the company said in <a href=\"https:\/\/ent.news\/2021\/6\/TMG-PRL-AR.pdf\">a statement (pdf)<\/a>. The 5k-feddan project will accommodate 600k residents in 140k residential apartments and villas, and feature commercial and administrative spaces. TMG received the land \u2014 which it purchased in January for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f09dc53f-d36f-411f-a667-36d4c2eff8eb\">EGP 28.5 bn<\/a> \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/abf14621-7b13-4455-a9b7-2252b0add546\">at the end of May<\/a>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Prime Fintech\u2019s Endorse will <\/strong><strong><a href=\"https:\/\/bit.ly\/3z6iWmE\">roll out<\/a><\/strong><strong> consumer finance<\/strong><strong> services in the next two months<\/strong>, with further plans to launch a digital factoring service soon. The company launched a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74d7940f-2074-4007-b598-1e3e2efd5530\">financial leasing service<\/a> earlier this year, offering a finance with a tenor of up to 60 months.<\/li>\n<li><strong>Saudi Arabia has agreed to suspend newly-imposed requirements on Egyptian<\/strong> <strong>food imports<\/strong>, and will send a team to Egypt this week to inspect food safety measures, Egypt\u2019s Agriculture Ministry said in <a href=\"https:\/\/www.facebook.com\/min.agriculture\/posts\/2586996371596175\">a statement<\/a> last week. The Saudi Food and Drug Authority last month said it would introduce new controls on crops imported from Egypt from July, requiring that all fresh foods, crops and spices acquire a Certificate of Conformity proving they comply with Saudi food safety regulations.<\/li>\n<li><strong>A campaign to raise awareness on marine conservation in the Red Sea<\/strong> was <a href=\"https:\/\/www.facebook.com\/EGY.Environment\/posts\/2878035709102147\">launched<\/a> by <strong>the environment and tourism ministries<\/strong> at the weekend, as part of the wider <a href=\"https:\/\/www.ecoegypt.org\/\">Eco Egypt<\/a> initiative that aims to promote environmental tourism. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Construction of Talaat Moustafa Group\u2019s EGP 500 bn Nour City development has begun, after Housing Minister Assem El Gazzar and TMG CEO Hisham Talaat Moustafa yesterday laid the foundation stone, the company said in a statement (pdf). The 5k-feddan project will accommodate 600k residents in 140k residential apartments and villas, and feature commercial and administrative [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,3666,72,7125,595,83,7117,1517,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562804","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-endorse","tag-enterpriseam","tag-environment","tag-non-banking-financial-services","tag-real-estate","tag-red-sea","tag-talaat-moustafa-group","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"5ad7bd42-d124-4747-91fc-2f3c9dcafb07","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[562783],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Construction of TMG\u2019s EGP 500 bn Nour City has begun - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction of TMG\u2019s EGP 500 bn Nour City has begun\" \/>\n<meta property=\"og:description\" content=\"Construction of Talaat Moustafa Group\u2019s EGP 500 bn Nour City development has begun, after Housing Minister Assem El Gazzar and TMG CEO Hisham Talaat Moustafa yesterday laid the foundation stone, the company said in a statement (pdf). The 5k-feddan project will accommodate 600k residents in 140k residential apartments and villas, and feature commercial and administrative [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-07T04:00:14+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Construction of TMG\u2019s EGP 500 bn Nour City has begun\",\"datePublished\":\"2021-06-07T04:00:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/\"},\"wordCount\":254,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"Endorse\",\"EnterpriseAM\",\"environment\",\"non-banking financial services\",\"real estate\",\"Red Sea\",\"Talaat Moustafa Group\",\"tourism\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/\",\"name\":\"Construction of TMG\u2019s EGP 500 bn Nour City has begun - 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The project includes residential, administrative, commercial, and recreational units.","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570284,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/25\/talaat-moustafa-awaiting-fra-approval-for-sukuk-issuance\/","url_meta":{"origin":562804,"position":2},"title":"Talaat Moustafa awaiting FRA approval for sukuk issuance","author":"enterpriseam admin","date":"25 March 2020","format":false,"excerpt":"DEBT WATCH- Market regulator expected to approve TMG\u2019s planned EGP 2 bn corporate sukuk issuance this week: The Financial Regulatory Authority (FRA) is expected to approve this week Talaat Moustafa Group\u2019s (TMG) planned EGP 2 bn corporate sukuk issuance, the head of the FRA\u2019s central administration for finance department tells\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560588,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/tmg-holding-income-falls-11-in-2020\/","url_meta":{"origin":562804,"position":3},"title":"TMG Holding income falls 11% in 2020","author":"enterpriseam admin","date":"4 March 2021","format":false,"excerpt":"Talaat Moustafa Group\u2019s (TMG) net income declined 11% in 2020 to EGP 1.7 bn, compared to EGP 1.9 bn a year earlier, according to the company\u2019s earnings statement (pdf). This came despite revenues jumping 20% y-o-y to hit EGP 14 bn during the year.","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569343,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/talaat-moustafa-to-set-up-four-seasons-branded-luxor-hotel-under-ppp-contract\/","url_meta":{"origin":562804,"position":4},"title":"Talaat Moustafa to set up Four Seasons-branded Luxor hotel under PPP contract","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"Talaat Moustafa Group (TMG) signed a contract with the Egyptian General Company for Tourism and Hotels (EGOTH) that will see TMG subsidiary Icon establish the planned Four Seasons-branded hotel in Luxor under a PPP framework, TMG said in a regulatory filing (pdf). The 200-room hotel is expected to cost up\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591977,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-planning-egp-1-bn-sukuk-issuance-for-egypts-tmg\/","url_meta":{"origin":562804,"position":5},"title":"EFG planning EGP 1 bn sukuk issuance for Egypt\u2019s TMG","author":"enterpriseam admin","date":"23 December 2019","format":false,"excerpt":"DEBT WATCH- EFG Hermes planning EGP 1 bn sukuk issuance for TMG? EFG Hermes will reportedly be leading a sukuk issuance worth over EGP 1 bn for Talaat Moustafa Group (TMG) as soon as it acquires a license that it has requested from the Financial Regulatory Authority (FRA), Al Mal\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562804"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562804\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562783"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562804"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562804"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}