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Egyptian real estate billionaire Hisham Talaat Moustafa added more than $90 million to his fortune after shares of his company, Talaat Moustafa Group (TMG), rose on the Egyptian Exchange. TMG is one of Egypt’s largest listed property developers and its stock has attracted renewed buying interest even as investors weigh inflation and currency pressures.
Moustafa’s TMG stake gains $91 million
Moustafa, chairman of the Cairo-based group, owns about 43.5 percent of TMG, roughly 890.6 million shares. Over the past two weeks, the value of his holding climbed by around EGP4.32 billion ($90.9 million), rising from EGP63.23 billion ($1.33 billion) on Nov. 24 to EGP67.55 billion ($1.42 billion), according to stock market data tracked by Billionaires.Africa.
The latest increase follows a previous gain earlier in the quarter. Between Oct. 23 and Nov. 11, Moustafa’s stake rose by $259 million as TMG shares moved higher. Taken together, these advances mark one of the stronger runs on the EGX this year, reflecting confidence in TMG’s project pipeline and its ability to deliver large-scale developments.
TMG market cap tops $3 billion
Founded in 1974, Talaat Moustafa Group has grown into one of Egypt’s leading developers. Its portfolio includes high-end residential communities, hospitality projects and mixed-use developments. Under Moustafa’s leadership, TMG has expanded steadily, attracting institutional investors seeking long-term exposure to Egypt’s housing market.
TMG shares have climbed 6.83 percent over the past two weeks, rising from EGP71 to EGP75.85 and propelling market cap above $3 billion. Year to date, the stock is up 37.36 percent. A $100,000 investment in TMG at the start of the year would now be worth $137,360, thus highlighting strong returns in a market adjusting to economic reforms and investor sentiment.
TMG’s land portfolio drives stock growth
TMG’s stock performance demonstrates the resilience of Egypt’s property sector and the enduring appeal of companies with a robust land portfolio and a track record of completing large-scale projects. For Moustafa and other shareholders the stock’s steady climb underscores the value of patience and long-term investment in the country’s real estate market.
