Table of Contents
Key Points
- Hisham Talaat Moustafa faces a civil lawsuit in London from Suzanne Tamim’s former partner seeking millions in compensation.
- Moustafa is pushing to have the case dismissed, more than a decade after his pardon for involvement in Tamim’s 2008 murder.
- The lawsuit emerges as Moustafa continues to lead one of Egypt’s top business empires, with real estate sales surging on strong SouthMed demand.
Egyptian billionaire and real estate mogul Hisham Talaat Moustafa, who was pardoned over a decade ago after being convicted in connection with the 2008 murder of Lebanese pop star Suzanne Tamim, is now facing fresh legal troubles in London.
According to Bloomberg, the singer’s former partner, kickboxing champion Riyadh Al Azzawi, is pursuing a civil claim worth millions in compensation and has asked a British judge to hear the case. Moustafa, who owns a 43.5 percent stake in Cairo-based Talaat Moustafa Group Holding (TMG), a stake now valued at around $1 billion, is pushing to have the claim thrown out.
Egyptian real estate titan builds cross-border empire
The lawsuit comes as Moustafa continues to lead one of Egypt’s most prominent business empires. TMG, his flagship real estate company, is pressing ahead with ambitious plans to grow both at home and abroad. Its latest project, Sharm Bay, is expected to bring in EGP120 billion ($2.4 billion) in sales. Set near the resort city of Sharm El-Sheikh, the development underscores the group’s increasing focus on luxury coastal properties and tourism-related investments.
Founded by Hisham Talaat Moustafa in 1974, TMG has grown into Egypt’s largest listed real estate company. Under his leadership, the group has built a strong presence on the Egyptian Exchange and remains one of the country’s most valuable publicly traded firms. While its roots are firmly in Egypt, the company is increasingly looking beyond its borders.
TMG’s regional moves gain momentum
After breaking into the Saudi market in 2024 with the Banan project in Riyadh, TMG became the first Egyptian developer to deliver high-end real estate in the Gulf at this scale. Building on that success, it is eyeing a $17 billion mixed-use development in Iraq in a move to generate more foreign currency revenue and protect itself against swings in its home market, Egypt.
In May 2025, TMG also signed a significant deal with Oman’s Ministry of Housing and Urban Planning. The agreement covers two major projects valued at OMR1.5 billion ($3.9 billion), reflecting the company’s growing focus on regional markets where demand for housing and large-scale developments continues to rise.
Record real estate sales for TMG
In its most recent update, TMG reported EGP160 billion ($3.16 billion) in real estate sales so far this year, an increase of 127 percent from the previous year and a new record for the industry. The second-phase launch of its massive North Coast development, SouthMed, brought in EGP70 billion ($1.38 billion) in sales in just one day, with more than 5,100 units sold.
Since launching in July 2024, SouthMed has generated EGP352 billion ($6.95 billion) in sales. Covering 23 million square meters, it continues to be a cornerstone project for the group, with future phases designed to reduce risk and improve profitability through an asset-light model.
The company’s performance in 2025 builds on a record-setting 2024, when it reported EGP504 billion ($10 billion) in total sales. TMG attributes its results to strong market execution, creative financing options, and the continued loyalty of more than 200,000 high-net-worth clients.
