Egypt: Tatweer Misr breaks sales record in H1 2023

Egypt: Tatweer Misr breaks sales record in H1 2023

Egypt - Tatweer Misr, Naif Alrajhi Investment are finalising necessary procedures to launch their joint entity, introduce their first project in the Saudi market, specifically in Riyadh

Tatweer Misr, a leading real estate developer in Egypt, has achieved its highest-ever revenue of EGP 12bn in the first half of 2023 while expanding its portfolio and meeting its delivery and operational targets. The company also raised its sales target for the year from EGP 15bn to EGP 18bn and announced the successful implementation of its external expansion plan.

Ahmed Shalabi, President and CEO of Tatweer Misr, said: “We have recorded a remarkable growth of 400% in sales during H1 2023, compared to EGP 3.1bn in H1 of last year, despite global and local economic challenges. We continue to explore investment opportunities that create integrated urban communities based on innovation, sustainability, and quality, creating added value for our projects and neighbouring areas.”

Tatweer Misr launched its sixth project, “Salt,” on Egypt’s northwest coast, spanning over 300 acres with various units, all with direct sea or lake views. The company delivered 2,600 units in the first half of 2023 and aims to deliver 3,600 units by the end of the year. It also delivered and operated