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Talaat Moustafa Group (TMG) has announced the development of a massive new mixed-use city east of Cairo, valued at 1.4 trillion Egyptian pounds ($27 billion).
The project, named “The Spine,” was unveiled by CEO Hisham Talaat Moustafa on Saturday and will be executed in partnership with the National Bank of Egypt.
This ambitious urban centre is designed as a special investment zone and will span approximately 2.4 million square metres.
The development aims to create a continuous urban environment by integrating residential areas, commercial hubs, retail spaces, and public parks.
Beyond its physical scale, “The Spine” represents a significant economic milestone, with an investment value equal to roughly 1% of Egypt’s GDP.
It is estimated that the project will contribute 818 billion Egyptian pounds in tax revenue to the national budget over the course of its lifecycle.
In addition to its financial impact, the new city is expected to be a major engine for employment.
Developers project that the project will generate more than 55,000 direct jobs, alongside hundreds of thousands of indirect positions.
The development is positioned to become a key pillar of Cairo’s eastward expansion and the broader national economy by combining hospitality, entertainment, and modern infrastructure.
