TMG Holding is one of the largest real estate developers in Egypt, with a land bank of 84 million square meters in Egypt and Saudi Arabia. In February 2024, TMG Holding reached an agreement with ADQ and Modon Properties to collaborate on the development of the Ras El-Hekma area. In the same month, its hospitality arm, the ICON Group completed the acquisition of a 51% stake with management rights in the Legacy Hospitality Company worth $800 million, representing a portfolio of seven distinctive hotels across Egypt. In May 2024, the group announced that it had achieved contractual real estate sales and reservations of more than $2.1 billion representing 9,303 units, since the start of 2024, including 1,706 units of sales in the new Saudi sustainable city “Benan” for over $505 million in seven working days from its soft launch.