Talaat Moustafa Group announced Saturday it will build a mixed-use city east of Cairo valued at approximately $27 billion [2].
The project represents one of the largest private urban developments in Egypt's history. By creating a new model for city planning, the development aims to shift urban density away from the crowded center of the capital.
CEO and Managing Director Hisham Talaat Moustafa said the plans during a press conference on April 18, 2026 [2]. The development is valued at 1.4 trillion Egyptian pounds [1], which is approximately $27 billion [2].
The new city will be located on the eastern outskirts of Cairo and will span an area of about 2.4 million square meters [4]. This massive footprint is designed to accommodate a variety of residential, commercial, and administrative uses.
To facilitate the construction and financing of the project, TMG is working in partnership with the National Bank of Egypt [3]. The collaboration is intended to provide the necessary capital and financial infrastructure to support a project of this scale.
The development focuses on a mixed-use urban model, integrating living spaces with business hubs, to reduce the need for long commutes. This strategy aligns with broader Egyptian efforts to expand the metropolitan footprint of Cairo to alleviate congestion in the historic city center.
TMG has not yet released a specific completion date for the first phase of the city. The group said the project is intended to serve as a new benchmark for urban planning in the region [3].
“Talaat Moustafa Group announced Saturday it will build a mixed-use city east of Cairo valued at approximately $27 billion.”
This project signals a continued reliance on mega-city developments to manage Egypt's population growth. By partnering with the National Bank of Egypt, TMG is leveraging state-linked financial backing to execute a high-capital project that aims to redistribute Cairo's economic activity toward the east, potentially raising land values in the surrounding outskirts.
