{"id":614699,"date":"2024-02-06T00:00:00","date_gmt":"2024-02-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/06\/tmg-mulls-new-project-in-the-north-coast-plus-news-from-telecom-egypt-and-the-cbe\/"},"modified":"2024-02-06T00:00:00","modified_gmt":"2024-02-06T00:00:00","slug":"tmg-mulls-new-project-in-the-north-coast-plus-news-from-telecom-egypt-and-the-cbe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/06\/tmg-mulls-new-project-in-the-north-coast-plus-news-from-telecom-egypt-and-the-cbe\/","title":{"rendered":"TMG mulls new project in the North Coast. PLUS: News from Telecom Egypt and the CBE"},"content":{"rendered":"

\n

REAL ESTATE-<\/p>\n

Talaat Moustafa Group (TMG) is looking into developing a new project in the North Coast<\/strong> \u201camong various other potential projects,\u201d it said in an EGX disclosure (pdf)<\/a>. The project is still in the evaluation stage and the group has not acquired the land plot yet, contrary to what local media has reported, the disclosure said.<\/p>\n

Market reax:<\/strong>TMG\u2019s shares rose 10.3% yesterday to close at EGP 37.5. <\/p>\n

\n

DEFENSE-<\/p>\n

We\u2019re getting drones from Turkey: <\/strong>Egypt is set to receive drones from Turkey under an agreement inked between the two sides, Turkish Foreign Minister Hakan Fidan said on Turkey\u2019s A Haber television channel, Reuters<\/a> reports. \u201cNormalization in our relations is important for Egypt to have certain technologies. We have an agreement to provide (Egypt) unmanned air vehicles and other technologies,\u201d the newswire quotes Fidan as saying.<\/p>\n

ICYMI- <\/strong>Turkish President Recep Tayyip Erdogan will meet<\/a> with President Abdel Fattah El Sisi when he touches down in Egypt next week. This will be Erdogan\u2019s first visit to the country since Egypt and Turkey restored<\/a> diplomatic ties and reappointed ambassadors in July.<\/p>\n

\n

TELECOMS-<\/p>\n

Egypt-Albania subsea cable in the works:<\/strong>Telecom Egypt<\/a> and Hungarian telecom company 4iG<\/a> have formed a JV to build a subsea cable between Albania and Egypt, according to a joint statement (pdf)<\/a>. The move follows an MoU for the same project inked<\/a> by the two parties in October.<\/p>\n

Remember: <\/strong>\u201cMore than 90% of the international traffic data between the East and the West passes through [Egypt] thanks to its distinguished geographical location,\u201d Communications Minister Amr Talaat said in the statement. Egypt is currently home to 14 in-service international subsea cables and \u201cwork is underway\u201d to establish five additional international subsea cables in partnership with international alliances, Talaat added.<\/p>\n

ICYMI-<\/strong> Telecom Egypt last month inked an agreement<\/a> with Jordanian telecom service provider NaiTel to build a subsea cable linking the two countries. <\/p>\n

\n

DEBT WATCH-<\/p>\n

The Central Bank of Egypt has sold USD 1 bn of USD-denominated one-year <\/strong>T-bills<\/strong> at an average yield of 5.149%, according to data on its website. The treasuries refinance USD 1.07 bn of USD-denominated one-year T-bills at an average yield of 4.90% due to mature today. <\/p>\n","protected":false},"excerpt":{"rendered":"

TMG\u2019s shares rose 10.3% yesterday to close at EGP 37.5<\/p>\n","protected":false},"author":1,"featured_media":614700,"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":[111,271,6717,72,83,343,1517,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-central-bank-of-egypt","tag-egypt-turkey-relations","tag-enterpriseam","tag-real-estate","tag-regulation","tag-talaat-moustafa-group","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"bef3e9f7-8ca4-4c9a-82cb-3c702b268922","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Talaat Moustafa Group mulls new North Coast project","related_issue":[614678],"teaser":"TMG\u2019s shares rose 10.3% yesterday to close at EGP 37.5","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.b09e136f-0ff3-495f-bb5e-3827fb966930.mp3"},"yoast_head":"\nTMG mulls new project in the North Coast. 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The project includes residential, administrative, commercial, and recreational units.","rel":"","context":"In "Real Estate + Housing"","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":562830,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/","url_meta":{"origin":614699,"position":1},"title":"TMG does another JV with state-owned banks","author":"enterpriseam admin","date":"8 June 2021","format":false,"excerpt":"The National Bank of Egypt (NBE), Banque Misr and Talaat Moustafa Group (TMG) have established a new real estate joint venture, dubbed Rawasi, with paid-in capital of EGP 200 mn, NBE Deputy Chairman Yehia Abou El Fettouh told Masrawy.What\u2019s in the pipeline? The new company obtained a EGP 9 bn\u2026","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/106.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562532,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/27\/cib-tmg-set-up-real-estate-spv-for-commercial-properties\/","url_meta":{"origin":614699,"position":2},"title":"CIB, TMG set up real estate SPV for commercial properties","author":"enterpriseam admin","date":"27 May 2021","format":false,"excerpt":"CIB and Talaat Moustafa Group (TMG) established a new real estate SPV, dubbed TCA Properties, during 1Q2021, the bank said in its quarterly report (pdf). CIB will own 37% of the new entity, with TMG holding the rest. The new venture will acquire, sell and lease commercial properties, and CIB\u2026","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562804,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/construction-of-tmgs-egp-500-bn-nour-city-has-begun\/","url_meta":{"origin":614699,"position":3},"title":"Construction of TMG\u2019s EGP 500 bn Nour City has begun","author":"enterpriseam admin","date":"7 June 2021","format":false,"excerpt":"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,\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"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":614699,"position":4},"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 "Speed Round"","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":568333,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/tmg-tapping-securitized-bond-market-again\/","url_meta":{"origin":614699,"position":5},"title":"TMG tapping securitized bond market again","author":"enterpriseam admin","date":"27 December 2020","format":false,"excerpt":"Talaat Moustafa Group (TMG) subsidiary Al Rehab Securitization plans to issue EGP 885 mn in securitized bonds to finance the development of TMG\u2019s real estate projects, sources told Al Shorouk. No further details on the timeline for the issuance were given. In a statement (pdf) earlier this month, the FRA\u2026","rel":"","context":"In "WHO\u2019S IN THE MARKET FOR DEBT"","block_context":{"text":"WHO\u2019S IN THE MARKET FOR DEBT","link":"https:\/\/enterpriseam.com\/egypt\/category\/whos-in-the-market-for-debt\/"},"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\/614699","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=614699"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614699\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/614678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/614700"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=614699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=614699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=614699"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=614699"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=614699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}