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Hisham Talaat Moustafa served nine years in prison, walked out in 2017 and built Egypt's largest listed real estate developer into an $8 billion annual sales machine.
The project, located near Sharm El-Sheikh, reflects the group's growing focus on high-end tourism and residential investments.
Cumulative real estate sales have now surpassed EGP1 trillion ($19.76 billion), cementing TMG’s place as Egypt’s most successful property developer.
The recovery follows a sharp decline between Jan. 1 and Feb. 7, when the market value of his stake dropped by EGP 2.84 billion ($56.48 million).
The company’s growth is attributed to the continued success of its real estate ventures and the booming hospitality sector.
Even with this decline, Moustafa remains one of Egypt’s wealthiest individuals, backed by his significant holdings in TMG.
TMG Holding's SouthMED and Benan projects fuel $9.4 billion in sales, showcasing the strong demand for luxury coastal living in Egypt and Saudi Arabia.
This decline follows a previous gain of $89.6 million recorded between Sept. 16 and 29, when Moustafa’s stake rose from $1.25 billion to $1.33 billion.
Building on their existing relationship in smart cities and sustainable solutions, TMG and Huawei plan to reshape Egypt’s urban landscape.
The company’s financial health remains robust, maintaining a net cash position of EGP23.9 billion ($501 million).
This significant upswing not only solidifies Moustafa’s status as one of the most influential investors on the EGX, but also elevates him to the ranks of Africa’s billionaires.
Shareholders can anticipate dividends distributed in two installments of EGP0.109 ($0.00356) each, with pay-out dates scheduled for May 31 and July 31.
Over four decades, Moustafa has propelled TMG into a $6.4-billion global real estate powerhouse, leaving an indelible mark on Egypt’s landscape.