Hisham Talaat Moustafa’s TMG begins second phase of SouthMED following $20 billion in sales

Key Points

• TMG surpassed EGP 1 trillion in total sales, driven by SouthMED’s unprecedented demand and its expansion into premium coastal and hospitality developments.
• Phase 2 of SouthMED generated EGP70 billion ($1.38 billion) in just 24 hours, marking one of the largest single-day real estate sales in Egypt’s history.
• Global marketing, asset-light strategy, and prime location near Alexandria position SouthMED as a premier destination for both local and international investors.

Cairo-based real estate giant, TMG Holding, under Egyptian billionaire Hisham Talaat Moustafa, has launched Phase 2 of its coastal development, SouthMED, after surpassing EGP 1 trillion ($20 billion) in cumulative real estate sales—a historic milestone driven by strong property demand and the company’s expansion into new markets in Egypt’s property sector.

SouthMED Phase 2 hits $1.38 billion in a single day

The development continues to redefine luxury living on Egypt’s North Coast with an unprecedented sales figure of a record EGP70 billion ($1.38 billion) in sales within just 24 hours of launching SouthMED’s second phase, selling 5,100 units. 

The momentum builds on the development’s overall success, with total sales since its July 2024 debut exceeding EGP352 billion ($6.95 billion). With this, TMG has crossed the EGP 1 trillion ($19.76 billion) threshold in cumulative real estate sales—solidifying its status as Egypt’s leading property developer.

Spanning 23 million square meters, SouthMED is envisioned as a world-class mixed-use destination, combining luxury villas, more than 2,000 hotel rooms managed by global hospitality brands, a marina, golf courses, and high-end retail and entertainment venues.

Global marketing and strategic location fuel demand

SouthMED’s success is supported by bold marketing campaigns, including cinematic ads featuring global icons Sylvester Stallone and Thierry Henry, which have enhanced the project’s international visibility. Strategically located near Alexandria, and within reach of Alamein International Airport and the Dabaa nuclear power plant, SouthMED appeals to both local and foreign investors seeking premier Mediterranean living.

TMG’s asset-light development model minimizes financial risk while maximizing returns—aligning with its long-term strategy for sustainable, high-margin growth.

TMG under Moustafa: Scaling new heights

Founded in 1974, TMG Holding has become Egypt’s largest real estate developer under the steady leadership of Hisham Talaat Moustafa, who holds a 43.16 percent stake in the company. His strategic vision has driven aggressive growth while preserving financial discipline.

In 2025, TMG is set for another landmark year, led by SouthMED’s record-setting scale and speed. The group continues to outpace competitors with its ability to capture demand, execute large-scale projects, and redefine regional real estate.

With a compound annual growth rate (CAGR) of over 70 percent in sales since 2017, TMG now holds more than 50 percent of the market share among Egypt’s top ten developers. It ranks among the region’s largest players—leading in sales volume and holding the second-highest sales value among publicly listed Middle Eastern developers. TMG’s growing sales pipeline and the strategic expansion of its Legacy Hospitality division further cement its long-term market leadership.