Egypt and TMG Sign $202 Billion Deal for Four Projects

Egypt and Talaat Moustafa Group Holding have signed a deal worth 11 trillion Egyptian pounds, or $202 billion. It covers four major mixed-use real estate projects that the group will develop, build, and operate.

The presidency announced the deal in a statement on Tuesday, October 20.

President Abdel Fattah El-Sisi witnessed the announcement on the second day of Egypt Forum 2026, during its urban development session. He congratulated the parties and said the state encourages investors to operate across all sectors.

He also stressed the importance of the social responsibility of investment projects.

The Four Projects

• North Madinaty, an expansion of the group's urban development east of Cairo
• An 11.3 million sq m development in central Alexandria
• An industrial, logistics, and real estate hub in Abu Qir, northeast of Alexandria
• A North Coast destination modelled on the group's SouthMED development

The Abu Qir project is meant to combine industrial and logistics facilities with real estate. The North Coast project will focus on an integrated coastal destination.

Talaat Moustafa Group has already developed large residential communities such as Madinaty and Al Rehab. It also runs hospitality and coastal projects. The presidential spokesperson, Mohamed El-Shinawy, outlined the project list.

What the Prime Minister Said

Prime Minister Mostafa Madbouly said the projects will include urban, tourism, industrial, and logistics developments.

Investment will be deployed over the course of implementation. He said the state's share of returns would help fund national projects.

These include informal-settlement redevelopment, social housing, roads, public services, and the Haya Karima initiative.

Madbouly said the projects are expected to create six million direct and indirect jobs. He added that the state would collect about 2.4 trillion pounds in taxes from them.

Also Read: Hyde Park Acquires 415 Feddans in West Cairo

200,000 Rental Homes

El-Sisi also asked the government to work with Talaat Moustafa Group on building 200,000 housing units for rent.

The latest deal follows an earlier agreement on The Spine, a mixed-use development in New Cairo.

It was launched in April 2026 with the National Bank of Egypt. Its total investments exceed 1.4 trillion pounds.

Also Read: Egypt Plans Real Estate Investment Fund for NUCA Assets

What Remains Unclear

Business media noted that the company's filing does not say what the state receives in return.

Those terms will decide what the agreements are worth to both sides, and further details are still to come. The $202 billion figure is based on an exchange rate of 54.35 pounds to the dollar.

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