CAIRO: Egypt’s largest real estate developer, Talaat Moustafa Group, has signed an agreement with the state to develop four major mixed-use projects with targeted investments of 11 trillion Egyptian pounds ($202.3 billion).
The move aims to expand the group’s investments across urban development, industry, logistics and tourism, Asharq Business reported.
Hisham Talaat Moustafa, the group’s CEO and managing director, said during the second day of the “Egypt Forum 2026” in the New Administrative Capital that the projects span a total area of more than 37 million sq. meters. They aim to create about 6 million direct and indirect jobs, along with direct and indirect tax revenue estimated at about 2.4 trillion pounds.
The projects are spread across East Cairo, Alexandria, Abu Qir and the North Coast. They include developing a new area north of Madinaty, building an integrated urban community in Alexandria, an industrial, logistics, real estate and tourism project next to Abu Qir port, and a new coastal destination modeled on South Med.
Abu Qir takes the largest share
The project planned next to the new Abu Qir port accounts for the largest share of targeted investments, at 5 trillion pounds, across about 10 million sq. meters, with expected tax revenue of about 1.1 trillion pounds.
The project aims to build an integrated economic system linking the port, the free zone, industrial complexes, and logistics, commercial, residential and tourism activities, supporting foreign investment and boosting production and export capacity.
Moustafa said the project seeks to benefit from Abu Qir’s strategic location and demand for multi-use economic projects in the Mediterranean region, noting that the planned industrial and free zones are a key element in attracting global investment.
3.2tn pounds for North Madinaty project
The agreement includes developing land on the strip linking the Suez Road and the Madinaty project in East Cairo, covering about 5 million sq. meters, with targeted investments of 3.2 trillion pounds and direct and indirect tax revenue exceeding 700 billion pounds.
The project aims to create an integrated destination combining residential, commercial, administrative and entertainment activities, complementing Madinaty and expanding urban and services activity in East Cairo.
Alexandria urban project worth 1.7tn pounds
The agreement covers an integrated urban project in Alexandria across about 11.3 million sq. meters, with targeted investments estimated at about 1.7 trillion pounds and direct and indirect tax revenue of about 375 billion pounds.
The project aims to deliver an integrated urban community along the lines of the group’s Al Rehab, Madinaty and Noor projects, adding a new destination for housing and investment in the governorate.
New coastal destination modeled on South Med
The group plans to develop a new project on the North Coast, in the area from 147 km to 151 km, covering about 10.4 million sq. meters, with targeted investments of about 970 billion pounds and direct and indirect tax revenue estimated at about 215 billion pounds.
Moustafa said the success of South Med since its launch in 2024 supports the push to replicate the experience through a new project that strengthens the North Coast’s appeal for investment and tourism.
The group had announced that cumulative sales at South Med reached 530 billion pounds, with 27,000 units sold since launch, according to Moustafa’s remarks at the same forum.
Expansion alongside The Spine project
The new projects follow the group’s announcement in April of plans to develop “The Spine” project on the outskirts of Cairo, with investments of 1.4 trillion pounds, equivalent to about $27 billion at the time of the announcement.
Bloomberg reported in April that the project spans more than 2 million sq. meters and includes 165 residential, office and commercial towers, as part of the group’s expansion into large-scale urban projects.
The new projects reflect the widening scope of TMG’s investments, from residential and commercial development to projects combining industrial, logistics and tourism activities.
Partnership with the state and execution challenges
Moustafa said the new agreement extends the partnership experience between the state and the group in the Al Rehab, Madinaty, Noor and South Med projects, aiming to maximize the economic value of assets and develop integrated urban and economic communities.
He added that the four projects aim to attract investment, strengthen production and export capacity, revive tourism, and create integrated urban and economic communities.
The investments, job opportunities and tax revenue cited in the announcement remain declared targets, while the available information did not include details on the timelines for implementing the four projects, how they will be financed, or how investment commitments will be divided between the state and the group.