Talaat Moustafa Group (TMG) Targets $18.8 Billion in Sales from New Baghdad Mega-Project Amidst Record H1 2026 Results
Talaat Moustafa Group Holding (TMG) aims to generate approximately $18.8 billion in cumulative sales from its upcoming integrated urban project in Baghdad, Iraq. This landmark development highlights the Group's ambitious regional expansion strategy, as it exports its successful model for building fully integrated communities to new markets outside Egypt.
In its financial performance report for the first half of 2026, TMG announced that it has officially secured the investment license for the project, alongside the allocation of a massive land plot to develop this comprehensive urban hub in the Iraqi capital.
Baghdad Mega-Project Highlights
The new Baghdad project is designed to be a self-sustaining city, reflecting TMG's long-standing expertise in creating vibrant, fully serviced urban ecosystems. The following table outlines the key specifications of the planned development:
Project MetricDetails
Land Area12.8 Million square meters
Planned Housing Units~43,000 Units
Target Population Capacity~250,000 Residents
Targeted Cumulative Sales$18.8 Billion
Accelerating Regional Expansion
Hisham Talaat Moustafa, CEO and Managing Director of TMG, stated that the Group will focus heavily on accelerating the pace of development and unit deliveries across its core project portfolio in the upcoming period. This will run parallel to expanding and upgrading its hospitality assets to boost recurring income streams.
"Simultaneously, we are moving forward with our regional expansion plans in the Kingdom of Saudi Arabia, the Sultanate of Oman, and Iraq. We are leveraging the Group’s strong financial position, conservative capital structure, and our proven ability to replicate our integrated urban development model in the most promising markets," Moustafa affirmed.
H1 2026 Financial and Operational Performance
The announcement of the Iraqi expansion comes on the heels of exceptional financial and operational results for TMG during the first half of 2026. The performance was largely driven by surging real estate revenues, a resilient hospitality sector, and steadily growing recurring income streams.
The following table summarizes TMG’s consolidated financial indicators for H1 2026:
Financial IndicatorH1 2026 ResultYear-on-Year (YoY) Growth
Consolidated RevenuesEGP 30.2 Billion+24%
Net ProfitEGP 9.9 Billion+23%
H1 Contractual SalesEGP 219.0 Billion-
Q2 Contractual SalesEGP 170.0 Billion-
TMG's robust sales momentum, particularly the EGP 170 billion secured during the second quarter alone, reinforces the company's market dominance and provides a strong foundation for its ongoing domestic and international expansion initiatives.