Ahmed Kamel – Egypt Daily News
Egyptian developer Talaat Moustafa Group has agreed to develop four large mixed-use projects with the state, announcing planned investments of about 11 trillion Egyptian pounds across areas in eastern Cairo, Alexandria, Abu Qir and the North Coast.
The projects will cover more than 37 million square metres and are projected to generate around six million direct and indirect job opportunities, company chief executive Hisham Talaat Moustafa said during the second day of Egypt Forum 2026 in the New Administrative Capital. He also cited an estimated 2.4 trillion pounds in direct and indirect tax revenues.
The figures are forecasts, not sums already spent or jobs and revenues already realized. The announcement did not set out a detailed construction timetable, specify financing arrangements for each development or explain how investment obligations will be divided between the company and the state.
The four developments would extend the group’s activities beyond residential real estate into industrial production, logistics, tourism and commercial services. Supporters of the model argue that combining such activities in large developments can create connected economic centres, rather than isolated housing projects. Whether the plans deliver those benefits will depend on funding, infrastructure, demand and implementation over time.
The largest project by proposed investment is planned near Abu Qir Port in Alexandria Governorate. The development is expected to cover about 10 million square metres, with a projected investment of five trillion pounds. Its design is intended to link the port with industrial and free zones, logistics operations, commercial facilities, housing and tourism.
Moustafa described Abu Qir’s location and access to Mediterranean trade as key advantages. The project’s proposed combination of port-related activity and industrial and logistics facilities is intended to attract investment and strengthen production and exports. The announcement put expected tax revenues from the Abu Qir development at about 1.1 trillion pounds.
A second major project, North Madinaty, is planned on roughly five million square metres of land between the Suez Road and the existing Madinaty development in eastern Cairo. Its targeted investment is 3.2 trillion pounds, with projected direct and indirect tax receipts exceeding 700 billion pounds.
The North Madinaty plan is expected to include residential, commercial, administrative and leisure uses. It would expand development around one of the group’s established communities and add further services and activities to the eastern Cairo corridor.
In Alexandria, the group plans an integrated urban development covering 11.3 million square metres. The proposed investment is 1.7 trillion pounds, with expected tax revenues of about 375 billion pounds. The company said the project would offer a new residential and investment destination, drawing on the model of its developments in Al Rehab, Madinaty and Noor.
The fourth project is planned on the North Coast between kilometre 147 and kilometre 151. Covering about 10.4 million square metres, it is expected to attract 970 billion pounds in investment and produce an estimated 215 billion pounds in direct and indirect tax revenues. The development is intended to follow the broad concept of the group’s SouthMED destination.
Moustafa said the performance of SouthMED, launched in 2024, had encouraged the company to pursue another coastal project. He said SouthMED had recorded cumulative sales of 530 billion pounds and sold 27,000 units, figures he presented during the forum. Sales totals, however, should not be confused with investment already deployed or construction completed.
The new agreement comes after the group’s announcement earlier in 2026 of The Spine, a separate mixed-use development on the outskirts of Cairo. That project was announced with a planned investment of 1.4 trillion pounds and an area exceeding two million square metres. It adds to a portfolio built around large planned communities and illustrates the group’s expanding scale.
Moustafa said the latest partnership builds on earlier cooperation between the state and the company in developments including Al Rehab, Madinaty, Noor and SouthMED. He said the four projects were intended to attract investment, expand production and export capacity, encourage tourism and establish integrated urban and economic communities.
Large-scale developments can create demand for construction, transport, utilities, retail and hospitality, while also requiring substantial coordination and long-term capital. Their projected employment and tax contributions will depend on whether construction proceeds, businesses establish operations and the developments attract residents and visitors. With no detailed schedules or financing plans disclosed for the four projects, those issues remain central to assessing the agreement’s eventual economic impact.
