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Egypt’s TMG plans to invest $3bn over 3 years

Egyptian property developer Talaat Moustafa Group plans too spend EGP18bn ($3bn) on its two main projects in the next three years, Arabic Al Mal has reported. TMG is planning to spend EGP6bn each year on its flagship Madinaty and Rehab developments, funded partly from client receivables. The company had not yet decided whether to seek bank loans to cover some of the planned investments, the report said, citing company official Tarek el-Naggar.