(MENAFN- Daily News Egypt) Tabarak Holding Group has demonstrated impressive growth in 2024, with its subsidiaries achieving a 100% year-on-year increase in sales. This remarkable performance was driven by investments totaling EGP 60bn, marking a 120% year-on-year increase. The Group's success was further reinforced by the launch of TBK Developments, its new development arm, in 2021.
TBK Developments, with a land portfolio spanning 4.5 million square meters, is preparing to unveil N Residence, the final phase of its 90 Avenue project. This phase will feature serviced residential units, following the completion of the first and second phases. The third phase is currently being handed over, with the entire project expected to be completed by the end of 2025. The company is also expanding its footprint with new land acquisitions in West Cairo for a mixed-use residential, commercial, and administrative project, set to be announced in early 2025.
Tabarak Holding has also expanded beyond Egypt, bolstering its regional presence through its international subsidiary, Tabarak International. In Saudi Arabia, the third phase of the A'aly AlRiyadh project is on track for completion in April 2025, with full delivery anticipated by the end of 2025 and the first half of 2026, consisting of 380 units. The Group plans to increase its investments in Saudi Arabia by acquiring additional land to meet the growing demand in this dynamic real estate market. Furthermore, Tabarak Holding aims to explore new opportunities in European markets, leveraging its strong reputation and trusted brand to attract a diverse customer base.
Ali Al Shorbany, Chairperson of Tabarak Holding Group, commented,“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.”
At this year's World Urban Forum, organized by the United Nations in Cairo, Tabarak Holding showcased its innovative approach to sustainable development in the 90 Avenue project. The company highlighted the use of eco-friendly building materials, renewable energy systems such as solar panels, waste management technologies, and plans for water treatment systems.
Looking ahead, Tabarak Holding is poised for significant growth in 2025, forecasting a more than 30% increase in sales. This expansion will be supported by a further doubling of investments, a strengthened land portfolio, and strategic partnerships with trusted entities, including government bodies and international companies in the hospitality sector. The Group aims to continue developing innovative, customer-focused projects both in Egypt and Saudi Arabia, Al Shorbany concluded.
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