Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) aims to generate total sales of EGP 120 billion from the Sharm Bay project over its lifespan, according to a bourse disclosure.

Located near the group-owned Four Seasons Resort in Sharm El-Sheikh, the project will feature approximately 3,000 residential units, including a mix of luxury villas and elegantly designed boathouses.

Upon completion, the development scheme is projected to achieve an average net profit margin of 20% and recurring income of EGP 30.20 billion.

The tourism resort will have premium amenities, including a world-class marina, high-end retail and entertainment venues, a wellness center, and sports facilities.

In May, TMG Holding and the Omani Ministry of Housing and Urban Planning penned an agreement for two projects valued at OMR 1.50 billion.