Egypt has signed an agreement with Talaat Moustafa Group Holding (TMG) to develop four major mixed-use projects with targeted investments of EGP 11 trillion, equivalent to approximately $202 billion. The developments will span East Cairo, Alexandria, Abu Qir and the North Coast, combining residential, commercial, industrial, logistics and tourism facilities. The projects aim to create six million direct and indirect jobs and generate EGP 2.4 trillion in tax revenues.
Key Overview
- Egypt and TMG signed an agreement valued at approximately $202 billion.
- The four developments will cover more than 37 million square metres.
- The projects target six million direct and indirect jobs.
- Expected direct and indirect tax revenue is EGP 2.4 trillion.
- The largest development, near Abu Qir Port, has targeted investments of EGP 5 trillion.
Egypt Partners With TMG on Four Mega-Projects
Egypt has entered a major real estate development partnership with Talaat Moustafa Group Holding, led by billionaire businessman Hisham Talaat Moustafa. The agreement covers the development, construction and operation of four mixed-use projects with a combined investment target of EGP 11 trillion, or approximately $202 billion.
President Abdel Fattah el-Sisi witnessed the announcement during the Egypt Forum 2026 in the New Administrative Capital on October 20. The agreement represents a significant expansion of the group’s development pipeline and the government’s use of private-sector partnerships to develop urban and economic infrastructure.
The four major mixed-use projects will be located across East Cairo, Alexandria, Abu Qir and the North Coast. Together, they are expected to cover more than 37 million square metres, combining housing and commercial facilities with industrial, logistics and tourism activities.
TMG expects the developments to generate approximately EGP 2.4 trillion in direct and indirect tax revenues and create around six million direct and indirect jobs over their implementation and operating periods. These are projected outcomes rather than guaranteed results.
Abu Qir Project Takes the Largest Investment Share
The largest project will be developed near the new Abu Qir Port, northeast of Alexandria. Covering approximately 10 million square metres, it is expected to attract investments of up to EGP 5 trillion, equivalent to about $91.9 billion.
The development is designed to integrate port operations, free-zone activities, industrial facilities, logistics, residential areas, commercial space and tourism. By connecting these activities within one economic hub, the project aims to attract foreign investment and strengthen Egypt’s production and export capacity.
The industrial and logistics development beside Abu Qir Port represents the largest component of the overall agreement. Its scale also reflects the government’s interest in combining property development with productive economic activities that can support trade and employment.
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Three More Developments Across Egypt
The second project, North Madinaty, will extend TMG’s existing Madinaty development in East Cairo. Covering approximately five million square metres between the existing city and the Cairo–Suez Road, it has targeted investments of EGP 3.2 trillion, or about $58.8 billion. Plans include residential, commercial, administrative and leisure facilities.
In Alexandria, TMG plans an integrated urban community covering approximately 11.3 million square metres. The project has targeted investments of EGP 1.7 trillion, or approximately $31.3 billion, and is expected to follow the model of the group’s existing developments, including Al Rehab, Madinaty and Noor City.
The fourth project will be a coastal destination spanning approximately 10.4 million square metres along Egypt’s North Coast, between kilometres 147 and 151. With targeted investments of EGP 970 billion, or around $17.8 billion, it will include homes, chalets, villas, hotels and retail facilities.
The North Coast development modelled on SouthMED will build on TMG’s existing presence in Egypt’s coastal property market. SouthMED, launched in 2024, has recorded substantial sales, providing a reference point for the company’s plans for another major resort destination.
Economic Impact and Investment Prospects
The agreement comes as Egypt continues pursuing large-scale urban expansion and private-sector investment. Combining residential development with industrial, logistics and tourism infrastructure could broaden the economic activities supported by the projects beyond property sales alone.
TMG’s recent business performance provides context for the expansion. The group reported sales of EGP 219.1 billion in the first half of 2026, compared with EGP 211 billion during the same period a year earlier. Its second-quarter sales reached EGP 170 billion, supported in part by demand for SouthMED.
The new agreement also follows the group’s earlier plans for The Spine, a mixed-use development in New Cairo announced in partnership with the National Bank of Egypt in April 2026, with investments exceeding EGP 1.4 trillion.
However, important implementation details remain undisclosed. The parties have not publicly specified the full construction timetable, the precise division of investment commitments or the arrangements for allocating and paying for the state-owned land involved.
Outlook
Egypt’s $202 billion agreement with TMG signals an ambitious effort to combine real estate development with industrial growth, logistics, tourism and urban expansion. If implemented as planned, the four projects could create substantial employment opportunities, attract investment and generate tax revenues over their lifetimes.
The scale of the programme also creates significant execution challenges. Delivering more than 37 million square metres of development will require substantial capital, infrastructure coordination and sustained demand for residential, commercial and tourism facilities. The projected six million jobs and EGP 2.4 trillion in tax revenue will depend on how effectively the projects move from agreements and investment targets to completed developments and operating businesses.
FAQs
1. What is the value of Egypt’s deal with Talaat Moustafa Group?
The agreement targets investments of EGP 11 trillion, equivalent to approximately $202 billion, across four major mixed-use projects.
2. Where will the four projects be located?
The developments will be in East Cairo, Alexandria, the Abu Qir area near Alexandria, and Egypt’s North Coast.
3. How many jobs are the projects expected to create?
TMG’s projections indicate approximately six million direct and indirect jobs, alongside EGP 2.4 trillion in direct and indirect tax revenues.
4. When will construction of the four projects be completed?
A complete construction timetable has not been publicly disclosed. The implementation schedule and financing arrangements will help determine when individual developments are delivered.
Sources: Middle East Online| ThinkBusiness Africa | Billionaires Africa
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