Egypt turns to billionaire Hisham Talaat Moustafa for $202 billion transformation across four mega-projects

Egypt has announced an agreement with family-led property developer Talaat Moustafa Group Holding to develop four large mixed-use projects with a combined stated value of EGP11 trillion, equivalent to about $202 billion.

• Egypt has partnered with Talaat Moustafa Group on four mixed-use developments valued at EGP11 trillion ($202 billion).
• The projects cover Cairo, Alexandria, Abu Qir and the Mediterranean North Coast, spanning housing, tourism, logistics and industrial property.
• The agreement expands the portfolio of the family-led developer behind Madinaty and SouthMed.
• The $202 billion represents the announced project value, not confirmed immediate spending or funding secured.

The agreement covers the development, construction and operation of projects in and around Cairo, Alexandria and Egypt’s Mediterranean coast. It places one of the country’s most influential private developers at the centre of the government’s continuing effort to create new urban and commercial centres.

The four developments are North Madinaty; a project covering 11.3 million square metres in central Alexandria, an economic hub incorporating industrial, logistics and property developments in Abu Qir; and a destination on Egypt’s North Coast modelled on TMG’s SouthMed development.

President Abdel Fattah el-Sisi witnessed the announcement on October 20 during the second day of the Egypt Forum 2026. Prime Minister Mostafa Madbouly also attended the event.

A $202 billion figure that requires context

According to the Egyptian presidency⁠, the agreement has a total value of EGP11 trillion, about $202 billion.

Neither the presidency’s statement nor the initial announcement provided a detailed financing structure, construction timetable or breakdown showing how much capital TMG has already committed.

The agreement is therefore a long-term development plan rather than evidence that $202 billion has been raised or will be spent immediately.

If completed at the announced value, the projects would significantly extend TMG’s property portfolio beyond its established residential communities and deeper into logistics, industrial property, tourism and coastal development.

Who is behind TMG?

Talaat Moustafa Group is a family-founded Egyptian developer led by businessman Hisham Talaat Moustafa. Its existing developments include Madinaty, Al Rehab, SouthMed and several hotel properties.

The company’s role gives the agreement a strong people-and-money dimension: a business group associated with one of Egypt’s best-known property families is being entrusted with projects whose stated value exceeds the annual economic output of many African countries.

The proposed North Madinaty development would extend the company’s flagship Madinaty community, while the Alexandria and Abu Qir projects would give the group a larger presence in Egypt’s second-largest city and an important Mediterranean commercial zone.

The North Coast project would replicate parts of SouthMed, TMG’s large tourism and residential development on the Mediterranean.

Egypt’s wider urban expansion

The agreement supports Egypt’s long-running policy of moving housing, investment and commercial activity beyond its densely populated traditional cities.

El-Sisi said Egyptians currently occupy only about 7% of the country’s territory. The government has established 61 new cities and says that almost 1.96 million housing units have been completed or are under construction.

The president also asked the government to work with TMG on 200,000 rental homes. The presidency did not make clear whether those homes form part of the four EGP11 trillion projects or constitute a separate proposed partnership, so they should not automatically be added to the agreement.

The projects give TMG access to new land and large-scale development opportunities, while offering Egypt the prospect of more construction activity, housing, tourism capacity and industrial infrastructure.