Prime Minister Dr. Mostafa Madbouly reviewed the plans of Talaat Moustafa Group (TMG) to inject additional investments in the coming period during a meeting held today at the government headquarters in the New Capital. The meeting was attended by Ahmed Kouchouk, Minister of Finance; Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities; Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade; Ashraf Salman, Former Minister of Investment; Hisham Talaat Moustafa, CEO of Talaat Moustafa Group; Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities; Mohamed Ragai, Deputy Chairman of NUCA for Financial, Administrative Affairs; and several officials from the group, Invest-Gate reports.
Supporting the Role of the Private Sector in the Economy
At the beginning of the meeting, the Prime Minister reaffirmed the state’s commitment to strengthening the role of private sector institutions and increasing their participation across various economic sectors. This includes creating a favorable environment that attracts more local and foreign investments, leveraging Egypt’s diverse capabilities and resources to achieve targeted economic, developmental, and social goals.
State Interest in Real Estate Development and Tourism
Madbouly highlighted the government’s strong focus on real estate development, urban expansion, and tourism, as well as its efforts to establish more smart and sustainable cities. He also noted the importance of increasing the number of housing units and hotel rooms to meet growing demand and support Egypt’s tourism targets in the coming years.
TMG’s Efforts in Developing Urban Destinations
During the meeting, Hisham Talaat Moustafa outlined the group’s integrated efforts in developing cities, urban destinations, luxury hotels, and tourism resorts. He noted that these projects contribute to creating sustainable purchasing power, delivering real added value, attracting more visitors and investments, and generating long-term economic returns.
Population Growth in TMG Cities
Moustafa added that the population in cities developed by the group has surpassed 1.2 million residents. For example, Madinaty alone is home to around 600,000 residents, with the final phase of its development currently underway. He also announced that the Four Seasons Madinaty Hotel is scheduled to open next March.
New Landmark Project in East Cairo
Moustafa also reviewed the master plan and designs for one of the group’s most significant upcoming projects in Madinaty, East Cairo. The project is designed to be an iconic global destination and a fully integrated hub for finance, business, shopping, entertainment, and hospitality. It will feature innovative components comparable to leading international destinations.
The project also aims to redirect tourism, entertainment, and commercial spending to the local market, attract global companies and investments, create more job opportunities, and introduce a new concept for entrepreneurship, commercial and entertainment activities, and modern living. Additionally, it is expected to enhance Egypt’s economic and urban strength while reinforcing its position as a regional hub for innovation and contemporary lifestyle.
Project Details
Moustafa noted that the new project will be developed on a land area of approximately 2.4 million sqm, with a built-up area reaching 3.9 million sqm. It will include 169 towers with heights ranging from 30 to 130 meters, around 20,000 residential units, and 584,000 sqm of office space.
The project will also feature 3,500 hotel rooms, in addition to 563,000 sqm of commercial, dining, and entertainment spaces. Green areas and water features will cover more than one million square meters.
Progress of the “South Med” Project
The CEO of Talaat Moustafa Group also reviewed the executive progress of the South Med project on the North Coast, along with several other tourism projects developed by the group. These projects have contributed to Egypt’s real estate export efforts and helped attract more visitors and investors to the country.