The results of the financial statements of the Hisham Talaat Mostafa Group have boosted the group's leading position in the real estate market.
The results crystalise the strategies Hisham Talaat Mostafa, the developer of Madinaty and Al Rehab, adopts to expand his group's business in mega urban projects.
The results also show the Hisham Talaat Mostafa Group is leading the Egyptian real estate market and prove he is the best real estate developer in the urban sector.
The Hisham Talaat Mostafa Group, the developer of Madinaty and Al Rehab, sold units with a total worth of EGP 49.8 billion until 30 September, up from EGP 47.7 billion during the same period last year.
Such results reflect how Hisham Talaat Mostafa, the best real estate developer, continues to develop the group's sales strategy. These revenues will be registered as profits when the units are delivered between 2020 and 2023, according to the schedule of delivery.
The Hisham Talaat Mostafa Group's total revenues in the first nine months of 2020 reached EGP 10412 million, up from EGP 7759 million during the same period in 2019, recording a 34 percent growth.
The hike in growth is primarily the result of the EGP 4 billion deal which came due to the strategic alliance with the National Bank of Egypt and Banque Misr to develop 342,000 square metres of lands in Madinaty and Al Rehab.