Egypt’s top 21 real estate developers achieved record-breaking sales of EGP 1.4trn in 2024, doubling the EGP 701bn recorded in 2023, according to a report by The Board Consulting. However, the market also experienced a sharp increase in reservation cancellations, surpassing EGP 20bn at one of the country’s leading developers.
The report attributed this rise to speculative buyers who inflate demand without the financial capacity to complete installment payments.The top 10 developers collectively recorded EGP 1.17trn in sales, marking a 135% increase compared to the previous year.
Talaat Moustafa Group (TMG) maintained its position as Egypt’s largest real estate developer, achieving EGP 510bn in sales—an impressive 263% jump from EGP 140bn in 2023. Of this total, EGP 447bn came from projects within Egypt. Palm Hills led major developers with EGP 150bn in sales, followed by Mountain View with EGP 105bn.
G Developments, formerly New Giza, secured third place with EGP 77bn, while Ora ranked fourth with EGP 61.8bn. Other major players included SODIC, which recorded EGP 50bn in sales, and Emaar, which followed closely with EGP 49bn.
City Edge reported sales of EGP 47bn, while Madinet Masr reached EGP 46bn. Hyde Park recorded EGP 45.9bn in total sales, with Saudi-based Al Marasem rounding out the top ten at EGP 34bn.
In the real estate marketing sector, The Address led the market with EGP 128.4bn in sales for 2024. Boldly followed with EGP 79bn, while Nawy secured third place .
