TMG’s New Chairman Says all Projects on Time

Talaat Moustafa Group, beaten by news that its outgoing chairman had been charged in a murder case, assured the public on Wednesday that all its outstanding projects are running per schedule and would be delivered on time.

"God willing, the dates of delivering the projects are still as they are," now Chairman, Tarek Talaat Moustafa told reporters. The company appointed Tarek Talaat Moustafa as chairman and managing director on Tuesday, replacing his younger brother Hesham shortly after the public prosecutor charged Hesham with hiring a man to kill Lebanese singer Suzanne Tamim in Dubai.

The public prosecutor charged Hesham Talaat Moustafa, a billionaire and a politician in the ruling National Democratic Party of President Hosni Mubarak, of paying former police officer Muhsen el-Sukkari $2 million to kill Tamim in July.

The new chairman defended his brother against the charges, saying the trial will prove his innocence.

Among other projects, Talaat Moustafa Group has embarked on building and developing Madinati, a major residential and commercial town on the outskirts of Cairo. It says the town will have the capacity to house 80,000 people.

About TMG

Talaat Moustafa Group (TMG) is considered one of the leading businesses operating in Egypt; it draws upon over 37 years of experience in the development industry to create innovative solutions to the lifestyle problems facing the Egyptian community.

TMG’s vision is to create “community developments” by establishing self-sustained residential city and community complexes in addition to luxury hotels and resorts