Talaat Moustafa Group to Build $27 Billion City East of Cairo
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7 Articles
Talaat Moustafa Group to build $27 billion city east of Cairo
Egypt's Talaat Moustafa Group (TMG) will build a new 1.4 trillion Egyptian pound ($27 billion) mixed-use city east of Cairo, CEO and Managing Director Hisham Talaat Moustafa said at a press conference on Saturday. The project, called The Spine, is to be developed in partnership with the National Bank of Egypt, with a paid-up capital of 69 billion Egyptian pounds ($1.3 billion). The project, to be built as a Special Investment Zone with TMG's Mad…
The project is expected to create more than 55,000 jobs.
In Egypt, a new city worth $27 billion will be built, according to CNBC. The huge project foresees the construction of 165 residential and commercial towers. The deadline is not clear, but the project The Spine is expected to create over 55,000 direct jobs and hundreds of thousands of indirect jobs. Initiators also want the future city to attract millions of visitors per year. The Egyptian Talaat Mustafa Group (TMG) announced that the entire inv…
Egypt continues to attract more investments despite global, regional uncertainty
Prime Minister Moustafa Madbouli on Saturday launched “The Spine” project, a flagship mixed-use development by Talaat Moustafa Group (TMG) in New Cairo, describing it as a landmark step in advancing Egypt’s urban transformation and economic growth. Madbouli said the project, with investments exceeding LE1.4 trillion, is expected to create more than 155,000 direct and indirect job opportunities, while generating tax revenues surpassing LE800 bill…
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