30 - Talaat Moustafa Group

22The TMG Brand NameFilling the gap in luxury hotels in EgyptTMG has also indentified a gap in Egypt for high-end hotels andintroduced luxury tourism facilities providing a level of service thathad not been previously witnessed in Egypt. TMG applied itsbusiness model for City and Community complexes to its Hotelsand Resorts business, for the first time combining the real estateand tourist product by establishing hotel complexes that also offerresidential, commercial and office units.In 1995 and 1996, the group acquired land on which to constructFour Seasons Resort Sharm El Sheikh and Four Seasons HotelCairo at Nile Plaza, which were opened in 2002 and 2004,respectively. In July 2007, TMG opened its third Four SeasonsHotel, the Four Seasons Hotel Alexandria at San Stefano. Allthree luxury hotels are managed by the reputable Four SeasonsManagement chain and are providing luxury touristic services ofthe highest international standards.TMG believes that retaining control over management of itsproperties following the completion of construction enables it tomaintain the quality of its complexes on a long-term basis, thushelping to maintain the resale value of the residential units. It alsoprovides a strong selling point for additional phases in the samedevelopment and for other TMG city and community complexes.Once construction is completed, TMG retains control ofmaintenance, repairs, staffing, security, and other services in thecommon areas of its city and community complexes on behalf ofits residents, on a cost-neutral basis.The way forwardIn a tradition to always spot opportunities and seize them, TMGwill continue to expand its land bank and H&R investments inEgypt and the region, building upon the trends it has set.Currently five more Hotel & Resort projects are under developmentby TMG.A Strategy to maintain and enhancereputation for quality and attention to detailIn an effort to provide high quality end-products and meet theactual demand of real estate and tourism markets in Egypt, TMGfollows a carefully managed process including conducting athorough market research to ascertain customer requirements,commissioning feasibility studies, and employing leadinginternational firms to carry out planning, design and implementation.Furthermore, TMG endeavours to maintain full control over themanagement of each of its city and community complexes, frominception of the project, through development, construction andpost-construction. This ensures the quality of its output and enablesit to conform to the heighest standards and specifications.