Talet Mustafa's shares rise 6% on new projects

The Talaat Mostafa Group Holding's stock rose by 6%, reaching 89.9 Egyptian pounds after the company announced the signing of an agreement with the government to develop four major multi-use projects covering over 37 million square meters, with targeted investments of 11 trillion pounds (approximately $200 billion). The projects include developing urban, commercial, industrial, and tourism destinations in East Cairo, Alexandria, Abu Qir, and the North Coast, as part of the company's strategy to expand its real estate operations and diversify its portfolio. Egyptian President Abdel Fattah El Sisi also asked the group to allocate between 100,000 and 200,000 housing units for rent as a social contribution, emphasizing the importance of integrating large projects to serve society alongside providing investment returns. The stock reached a high of 93 pounds during the session, with about 9.92 million shares traded, and there are expectations for further growth as the new projects continue to be implemented.

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