Talaat Moustafa Group (TMG), long known for building sprawling residential communities across Egypt, plans to nearly double its hotel portfolio over the next decade as it pivots toward hospitality, entertainment and recurring income.
Chief Executive Hisham Talaat Moustafa said the company aims to expand from about 20 hotels today to between 35 and 40 properties, transforming hospitality into a business that rivals its traditional real estate operations.
The strategy reflects a broader shift taking place across the Middle East, where developers are investing heavily in tourism, luxury hospitality and mixed-use destinations to create more stable income streams beyond cyclical property sales.
Speaking to Al Arabiya Business, Moustafa said the expansion will deepen links between the group’s residential communities, hotels and entertainment assets, creating integrated destinations where people can live, work and spend.
The numbers suggest the transition is already underway. Hotel revenue climbed 21% in the first quarter to about $90 million (4.3 billion Egyptian pounds).
