Egypt and Talaat Moustafa Group Ink 11 Trillion EGP Deal for Four Mega Developments
Cementing a robust public-private partnership, the Egyptian government and Talaat Moustafa Group (TMG) have finalized a massive agreement to establish and operate four expansive mixed-use projects valued at 11 trillion EGP.
The agreement was unveiled on Tuesday during the "Egypt Forum 2026," witnessed by President Abdel Fattah El-Sisi and Prime Minister Moustafa Madbouly at an urban development session.
Project Blueprint: From North Coast to Alexandria
According to presidential spokesperson Ambassador Mohamed El-Shennawy, the four strategic projects span several vital regions:
North Madinaty: A cutting-edge urban expansion.
Alexandria Development: Spanning an impressive 11.3 million square meters in the coastal hub.
Abu Qir Economic Zone: A multi-functional industrial, logistics, and real estate hub.
North Coast Luxury Destination: A premier coastal project mirroring the successful "SouthMed" model.
El-Sisi Calls for 200,000 Rental Units
Hailing the partnership, President El-Sisi stressed the vital role of private sector collaboration and community service.
In a significant policy push, the President tasked the government and TMG with building 200,000 rental housing units to diversify housing options beyond pure ownership. This complements an earlier directive for 200,000 rental units in partnership with the Tahya Misr Fund. Additionally, El-Sisi reaffirmed that the state remains fully committed to finalizing the nationwide "Decent Life" initiative by 2030.