Tabarak Group Announces 60 Billion EGP Investment in 2024
Tabarak Holding Group, a prominent player in Egypt’s real estate sector, has reported remarkable growth in 2024, with its subsidiaries achieving a 100% year-on-year increase in sales. This impressive performance is underpinned by substantial investments totaling 60 billion EGP , marking a 120% increase compared to the previous year. Expansion of TBK Developments In 2021, Tabarak Holding launched TBK Developments, its dedicated development arm, which has since played a pivotal role in the company’s success. With a land portfolio encompassing 4.5 million square meters, TBK Developments is poised to introduce N Residence, the final phase of the 90 Avenue project. This phase will offer serviced residential units, complementing the completed first and second phases. The third phase is currently being handed over, with the entire project slated for completion by the end of 2025. Furthering its expansion, the company is acquiring new land in West Cairo for a mixed-use project that will encompass residential, commercial, and administrative spaces. Details of this project are expected to be announced in early 2025, signaling Tabarak Holding’s commitment to diversifying its portfolio and meeting the evolving demands of the market. International Ventures Tabarak Holding’s growth trajectory extends beyond Egypt through its international subsidiary, Tabarak International. In Saudi Arabia, the third phase of the A’aly AlRiyadh project is progressing on schedule, with completion anticipated in April 2025. The full delivery of 380 units is expected by the end of 2025 and into the first half of 2026. Recognizing the robust demand in Saudi Arabia’s real estate market, the Group plans to acquire additional land to further its investments in the region. Moreover, Tabarak Holding is exploring opportunities in European markets, aiming to leverage its reputable brand to attract a diverse clientele and expand its international footprint. Commitment to Sustainable Development At the United Nations’ World Urban Forum held in Cairo, Tabarak Holding showcased its commitment to sustainable development, particularly within the 90 Avenue project. The company emphasized the incorporation of eco-friendly building materials, renewable energy systems such as solar panels, and advanced waste management technologies. These initiatives align with global sustainability standards and reflect the company’s dedication to environmentally responsible development. Future Outlook Looking ahead, Tabarak Holding aims to double its investments and expand its land portfolio with diverse projects both domestically and internationally. The Group forecasts a sales increase exceeding 30% in 2025, supported by strategic partnerships with government bodies and international companies in the hospitality sector. This ambitious expansion strategy is in harmony with Egypt’s Vision 2030, contributing to the nation’s comprehensive urban development goals. Chairperson Ali Al Shorbany stated, “Our goal is to double our investments and expand our land portfolio with diverse projects in Egypt and abroad. We are committed to a bright future for the Group, full of accomplishments and new challenges, while contributing to Egypt’s Vision 2030 and its comprehensive urban development.” In summary, Tabarak Holding’s strategic investments and commitment to sustainable development have positioned the Group for continued success. By aligning its projects with national development objectives and exploring new markets, Tabarak Holding is set to play a significant role in shaping the future of real estate development in Egypt and beyond.