Egypt's Talaat Moustafa Group Plans $27 Billion City Development East of Cairo
Talaat Moustafa Group (TMG) announced plans to build a $27 billion mixed-use city east of Cairo, named The Spine. The project, developed in partnership with the National Bank of Egypt, will cover 2.4 million square meters and include residential, commercial, hospitality, retail, entertainment, and public green spaces. The investment represents approximately 1% of Egypt's GDP and is expected to generate significant tax revenues. The development aims to create over 55,000 direct jobs and numerous indirect positions, contributing to economic growth and urban expansion.