TOREC Developments Reports EGP 3.18 Bn in Sales and EGP 87 Mn Profit for 2024

TOREC Developments, a subsidiary of the New Urban Communities Authority (NUCA), has reported strong financial results for 2024, achieving EGP 3.18 billion in sales and EGP 87 million in net profit.

Throughout the year, the company intensified its construction activities, launching projects worth EGP 750 million. These initiatives align with NUCA’s strategy to accelerate urban development and create job opportunities.

One of TOREC’s standout projects is the Saba Residence compound, which witnessed remarkable demand. Within just five days of opening online reservations, 2,510 customers placed initial payments for 600 available apartments. The units, ranging from 90 to 141 sqm, were priced at EGP 17,300 per sqm, with flexible payment plans extending up to seven years.

Additionally, TOREC Developments strengthened its market presence by signing a EGP 450 million contract with Jumla Market, paving the way for New Alamein’s first hypermarket.

Established in 2015, TOREC Developments has positioned itself as a key player in Egypt’s real estate sector, focusing on innovation and high-quality developments. With strategic partnerships and ambitious expansion plans, the company remains committed to enhancing the country’s urban landscape.