Egypt Signs EGP 11 Trillion Urban Development Agreement with TMG

en.Wedoany.com Reported - On October 20, the Egyptian government signed four large-scale integrated development cooperation agreements with Talaat Moustafa Group (TMG), with a planned total investment of approximately EGP 11 trillion (about USD 202 billion), covering Cairo, Alexandria, and the North Coast areas, involving the development of residential, commercial, industrial, logistics, and tourism facilities. The signing was announced during the Egypt 2026 Forum, with Egyptian President Sisi attending related events.

Among the four projects, the Abu Qir integrated development project has the largest investment scale, with a planned investment of approximately EGP 5 trillion, covering an area of about 6.65 million square meters, located near the new Abu Qir Port in northeastern Alexandria. The project will integrate port, free trade zone, industrial park, logistics facilities, commercial and residential functions, building a comprehensive economic development zone supporting the port.

The North and West Expansion Project of Madinaty in northeastern Cairo is planned to cover an area of approximately 5 million square meters, with a target investment of EGP 3.2 trillion. The development area is located between the existing Madinaty community and the Suez Road, building residential, commercial, administrative office, and leisure facilities, and connecting to existing urban infrastructure. The Alexandria city center integrated development project covers an area of approximately 11.3 million square meters, with a planned investment of EGP 1.7 trillion. It will continue TMG's existing integrated community development model and build a large-scale urban functional area locally.

The North Coast project is located along the coastal road from kilometer 147 to kilometer 151, with a planned area of approximately 10.4 million square meters and a target investment of EGP 970 billion. The development content includes residences, apartments, vacation villas, hotels, commercial facilities, and public infrastructure, implemented according to TMG's existing South Mediterranean project development model.

The Egyptian government is advancing the four projects with TMG through a public-private partnership approach. According to the company's announcement submitted to the Egyptian Stock Exchange on October 20, this cooperation determined the investment targets, locations, and main development uses of each project.