TMG bets on recurring income for next growth phase

TMG Holding says its diversified business model is making its earnings more stable. Net profit for the first nine months (9M) of 2026 rose 18.6% to EGP 15bn.

Consolidated revenue rose 24.1% year on year to EGP 47.6bn. The group said growth came from real estate development, better hospitality performance and the continued expansion of its recurring revenue streams.

CEO and Managing Director Hisham Talaat Moustafa said the results reflect the strength of the group’s diversified model, steady demand for its integrated communities and destinations, and the trust it has built over decades of consistent execution.

He said contracted sales of EGP 290bn show continued demand for the group’s projects in Egypt and regional markets. Turning that demand into results matters just as much, he added. He pointed to construction at SouthMED, which is running ahead of schedule, and to the start of unit deliveries at Noor in the third quarter.

Beyond traditional development

Moustafa said TMG Holding has moved beyond the traditional real estate development model. It is now an integrated platform covering urban communities, hospitality, commercial activities and a growing portfolio of businesses that generate recurring income.

He said this lets the group create value both by developing and selling property and by operating and managing its destinations and communities over the long term. According to Moustafa, this makes the group’s earnings more visible, stable and sustainable, and improves their quality.

He said the hospitality segment kept performing well, helped by higher room rates, better occupancy and resilient profit margins. Recurring income activities also continued to grow, which further diversifies the group’s earnings base.

New growth phase

Moustafa said TMG Holding is entering a new phase of growth. It is backed by a larger development pipeline, a strong financial position and significant room for regional expansion.

He said the four strategic projects the group recently announced in Egypt are a major extension of its domestic portfolio. Its growing regional presence is also opening up new opportunities for growth and geographic diversification.

Hospitality remains a key strategic pillar, with several hotels under development. These are expected to expand the group’s luxury hotel portfolio and increase its ability to earn recurring revenue in foreign currency.

Moustafa said the group aims to strengthen its position as an integrated developer and operator of large-scale communities and destinations, combining strong development with sustainable long-term income. He said the model gives the group a solid base for continued growth, more resilient earnings and long-term value for shareholders.