Moustafas stake in TMG rebounds above 1 billion after adding 95 million in 22 days, driven by a 10.3 rise in share price.
TMG shares gain 2.4 year-to-date despite wider market concerns, pushing market cap beyond 2.3 billion.
Strong demand and sector confidence fuel recovery, helping TMG outperform and reinforcing Moustafas status among Egypts richest.
Egyptian billionaire Hisham Talaat Moustafa, chairman of the Talaat Moustafa Group TMG, has seen the value of his stake in the real estate company climb back above 1 billion, following a steady recovery in the companys share price on the Egyptian Exchange EGX in recent weeks.
Moustafa regains billion-dollar stake valueMoustafa, who holds a 43.5 percent stake in TMG, has added EGP4.7 billion 95 million to his net worth over the past 22 days. The increase has pushed the value of his stake above EGP50.39 billion 1.02 billion, reinforcing his standing among Egypts wealthiest business leaders.
This marks a clear reversal from June, when TMGs stock slipped and Moustafas stake dropped by about 78.5 million in just one week. Since then, renewed confidence in the sector and strong demand for TMGs projects have helped lift the companys shares.
Shares bounce back as confidence returnsTMG , founded by Moustafa in 1974, has grown into Egypts largest real estate holding company. Under his leadership, it has become one of the most closely watched stocks on the EGX.
Over the past three weeks, TMGs share price has climbed 10.3 percentfrom EGP51.30 1.04 on June 19 to EGP56.58 1.14. The rally has pushed the companys market capitalization to more than 2.3 billion, rewarding shareholders with a healthy gain.