Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) announced that it aims to launch a new project under the name of “SPINE” in Madinaty, New Cairo.
Spanning 4 million square metres, the project will be built at an estimated cost of EGP 300 million within the next 17 months, the leading property developer said in a statement to the Egyptian Exchange (EGX).
SPINE will feature residential, commercial, recreational units, as well as hotel apartments.
TMG Holding’s CEO and managing director Hisham Talaat Mostafa previously said that his company was planning to unveil an EGP 300 billion project.
In November, the EGX-listed real estate company reported a 13% year-on-year increase in consolidated profits for the first nine months of 2018, recording a net profit of EGP 1.18 billion, versus EGP 1.05 billion.
