Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) has completed the designs of Four Seasons Hotel Madinaty with EGP 6 billion in investments.
The construction of the hotel is expected to begin within three months, TMG Holding said in a filing to the Egyptian Exchange (EGX) on Tuesday.
Additionally, the EGX-listed company noted that its investments in the New Administrative amount to EGP 35 billion, in which it will offer a 500-acre project for sale within three months.
In 2017, TMG Holding had announced the expansion of Four Seasons Resort Sharm El Sheikh in collaboration with Riyadh-based Kingdom Holding Company.
In April 2017, Arab Company for Projects and Urban Development, a subsidiary of TMG Holding, bought a 500-acre land plot at a value of EGP 4.4 billion in the New Administrative Capital.
