Talaat Moustafa Group signs deal for four Egyptian projects worth $202 billion

Egyptian real estate developer Talaat Moustafa Group (TMG) has signed an agreement with the government to develop four mixed-use projects with targeted investments of $202.3 billion, according to Asharq Business.

The projects cover more than 37 million square meters across East Cairo, Alexandria, Abu Qir and the North Coast.

TMG CEO and Managing Director Hisham Talaat Moustafa said at the Egypt Forum 2026 in the New Administrative Capital that the developments are expected to generate around 6 million direct and indirect jobs and $44.1 billion in direct and indirect tax revenue.

The plans include a new development north of Madinaty in East Cairo, an integrated urban community in Alexandria, a project combining industrial, logistics, real estate and tourism activities near Abu Qir port, and a coastal destination on the North Coast modelled on the group’s South Med development.

The Abu Qir project accounts for the largest share of planned investment, at approximately $91.9 billion, across around 10 million square meters. It is expected to generate about $20.2 billion in direct and indirect tax revenue.

The development is planned as an integrated economic zone linking the port and free zone with industrial facilities, logistics, commercial operations, residential communities and tourism activities. The group says the project is intended to attract foreign investment and strengthen Egypt’s production and export capacity by leveraging Abu Qir’s location on the Mediterranean.

In East Cairo, TMG plans to develop approximately 5 million square meters of land along the corridor connecting the Suez Road with Madinaty. The project carries targeted investments of around $58.8 billion and expected direct and indirect tax revenue exceeding $12.9 billion.

The development is intended to combine residential, commercial, administrative and entertainment facilities, expanding urban and service activity in the area around Madinaty.

The proposed Alexandria project will cover around 11.3 million square meters, with targeted investments of approximately $31.3 billion and projected direct and indirect tax revenue of around $6.9 billion. TMG plans to develop an integrated urban community modelled on its Al Rehab, Madinaty and Noor projects.

On the North Coast, the group plans a new destination spanning approximately 10.4 million square meters between kilometers 147 and 151 of the coastal road. The project carries targeted investments of around $17.8 billion and expected direct and indirect tax revenue of approximately $4 billion.

Moustafa attributed the planned expansion to demand for coastal developments, citing the performance of South Med, which launched in 2024. He said cumulative sales at the project had reached around $9.7 billion, with 27,000 units sold.

The four projects follow TMG’s announcement in April of The Spine, a development on the outskirts of Cairo with planned investments of $27 billion at the time. Bloomberg reported that the project spans more than 2 million square metres and includes 165 residential, office and commercial towers.

Moustafa said the new agreement builds on TMG’s partnerships with the state through projects including Al Rehab, Madinaty, Noor and South Med. The four developments are intended to increase the economic value of assets, attract investment, support exports and tourism, and establish integrated urban and economic communities.

However, the announced investment, employment and tax revenue figures remain targets. Details on project timelines, financing arrangements and the division of investment commitments between TMG and the government were not provided in the available announcement.