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Cairo – Mubasher: Talaat Mostafa Group Holding announced that the procedures for signing a contract between the Arab Urban Investment Company, a subsidiary of the New Urban Communities Authority, are being finalized to acquire 5,000 feddans in the gardens of the capital , east of Cairo, to develop a new sustainable mixed-use city.
The company said in a statement to the Egyptian Stock Exchange today that the project provides for direct and indirect taxes on the state budget amounting to £ 110 billion, in addition to 3.3 million jobs. direct and indirect.
The company plans to include around 140,000 housing units in the project, in addition to commercial, administrative, medical, educational and sports service areas, with total investments amounting to £ 500 billion.
The company said a group of international consulting firms had been tasked with implementing an overall integrated plan for the project.
The project is expected to accommodate approximately 600,000 people when completed, and will include a 37-acre university campus, a 90-acre sports club, and a 5-star hotel, in addition to 30 acres for educational activities for students. different stages of school.
The company explained that the price of the land will be paid by a combination of in-kind accommodation and cash payments.
In the first nine months of 2020, the Talaat Mostafa Group made profits of £ 1.569 billion in the nine months ended last September, up from £ 1.312 billion in the comparative period of 2019, including rights to the minority.
The company’s revenue increased during the period to reach £ 10.41 billion, from £ 7.75 billion for the comparative period of the previous year.
At the independent business level, the company made after-tax profits of £ 99.99 million in the first nine months of this year, compared to profits of £ 71.26 million for the comparative period of 2019.
Appointments:
Talaat Moustafa Profits Increase 20% in 9 Months, Supported by Revenue Growth
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