Talaat Moustafa Group Holding (“TMG Holding” or “the Group”) is pleased to announce that its subsidiary, Talaat Moustafa Company Baghdad, has successfully received an investment license number 2026/515 issued on 24 May 2026 by the Iraqi National Investment Commission, and secured a land bank to develop an integrated community in South-West Baghdad, Iraq, marking a significant milestone in the Group’s regional expansion strategy, Invest-Gate reports.
Project Overview
The project will comprise a total of approximately 43,000 residential units and is expected to accommodate around 250,000 residents upon completion. The master plan includes approximately 2.3 million sqm of non-residential built-up area, encompassing retail and commercial assets, including a regional mall, office and administrative space, hospitality facilities, educational and healthcare institutions, religious and civic services, a large-scale sports and social club, entertainment venues, parks, and open green spaces.
The development is designed as a self-sustained, smart, and green urban community supported by sustainable infrastructure and digital management systems.
Financial Highlights and Strategic Expansion
Based on preliminary feasibility studies, the project is expected to generate cumulative sales of approximately USD 18.8 billion, alongside recurring annual revenues of approximately USD 108 million upon full completion from leasing and hospitality assets.
The project is expected to achieve an overall gross margin of approximately 20%, with a development period of approximately 16 years and full sell-out anticipated within 12 years, providing attractive long-term returns and sustainable value for shareholders.
The land bank, spanning approximately 12.8 million sqm, is strategically located within Baghdad Financial and Economic City and benefits from direct connectivity to key financial and administrative districts. The site also enjoys excellent accessibility through its close proximity to Baghdad International Airport.
The Iraq project is part of TMG Holding’s accelerated regional expansion strategy, executed through Talaat Moustafa Group KSA entity, growing the Group’s total land bank from 115 million sqm to approximately 128 million sqm, and adding an estimated USD 3.58 billion in incremental land bank value.
In the GCC, TMG’s land bank will reach approximately 28 million sqm, further diversifying its foreign-currency denominated real estate and recurring income streams.
The project will introduce larger-scale, high-quality integrated residential developments to the Iraqi market through TMG’s proven integrated community development model.
This will enable TMG to capture the strong fundamentals in the underpenetrated Iraqi real estate market, characterized by strong domestic demand and high purchasing power, while contributing to the advancement of modern urban infrastructure and supporting Iraq’s long-term economic and developmental transformation.