Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) signed a deal with the Omani Ministry of Housing and Urban Planning to develop two projects in Oman, according to a press release.

Hisham Talaat Moustafa, Chairman of Talaat Moustafa Group Muscat for Real Estate Development, indicated that the total investment value of the two projects amounts to nearly OMR 1.50 billion.

With a projected sales value of $4.70 billion, the EGX-listed group provide about 13,000 residential and hotel units across over 4.90 million square meters.

Upon completion, the development schemes are expected to contribute to the group’s recurring income streams on a perpetual basis, with a value estimated at $54.80 million annually.

The real estate and tourism projects both offer a high quality of life with comprehensive services catering to all residents' needs.

Over 50% of their total area will be dedicated to green spaces and open areas. This is in addition to religious, health, entertainment, and sports services, alongside daily and seasonal commercial offerings.

Oman marks TMG Holding’s second venture outside Egypt, following their initial projects in Saudi Arabia.

The group recently generated EGP 70 billion in sales from the second phase launch of its SouthMED project on the Mediterranean.