The Egyptian presidency announced on Tuesday 20 October an agreement between the state and Talaat Moustafa Group, TMG, to develop, build and operate four large property, industrial and tourism projects valued at 11,000 billion Egyptian pounds. The announcement was made on the sidelines of the Egypt 2026 forum, in the presence of President Abdel Fattah al-Sissi.
That figure corresponds to the investment expected during the implementation of the projects. Prime Minister Moustafa Madbouli told the forum that it would be deployed over the entire implementation period, according to his remarks reported by the Egyptian daily Youm7. This is an announced development envelope, not an immediate disbursement.
The programme includes a project in North Madinaty and an operation covering 11.3 million square metres in the heart of Alexandria, according to the presidential statement.
Another package is to combine industrial, logistics and property activities in Abu Qir, near Alexandria. The fourth project envisages a destination on the north coast, modelled on the South Med complex.
On the occasion of the agreement, Abdel Fattah al-Sissi also asked the government to cooperate with TMG to build 200,000 homes for rent, the presidency said.