Type Public (EGX: TMGH) Number of employees 100,000 | Key people Talaat Moustafa Founded 1975 | |
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Industry agriculture, construction, manufacturing, real estate Subsidiaries Arab Company For Hotels and Tourism Investments | ||
Talaat moustafa group holding
The Talaat Moustafa Group (TMG), one of the largest conglomerates in Egypt, was founded by the former Talaat Moustafa and is headed by his son, Tarek Talaat Moustafa.
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The Talaat Moustafa family, which includes the daughter of Talaat Moustafa, Sahar Talaat Mostafa, owns 51% of the group's total stock; the rest is owned by Egyptian and Arab investors. Comprising 23 companies, the group is estimated to be worth 11.6 billion Egyptian pounds and employs more than 3,000 people along with 60,000 additional workers at its various project sites. In November 2007, the company's shares were made public.
TMG owns the largest urban development project in Egypt, El Rehab and other major projects in resort cities such as Sharm el-Sheikh. It has built the San Stefano Grand Plaza in Alexandria. The group has opened three Four Seasons Hotels in Egypt and is working on a major resort in Marsa Alam. In July 2006, The Talaat Moustafa Group started the Madinaty project, which literally means 'My City' in Arabic, is expected to occupy 8,000 feddans and become the largest all inclusive city in the Middle East when it is completed in 2010.
The construction branch is managed by Moustafa's eldest son, Tarek Talaat Moustafa, who is also the head of the Egyptian Lower Parliament's housing committee. The agricultural branch is managed by his second eldest son, Hani Talaat Moustafa. The real estate branch was managed by his youngest son and former member of the Egyptian Shura Council, Hisham Talaat Moustafa. Tarek took over Hisham's duties after he was arrested in September 2008 for the murder of Lebanese singer Suzanne Tamim. Hisham still has many years to serve on his murder conviction.