Talaat Moustafa Group (TMG) Holding, Egypt’s largest publicly listed real estate developer, announced on April 29, 2025, that it is in advanced discussions with the Iraqi government to develop a large-scale urban community in Iraq.
The proposed project will span 14 million square meters and include around 45,000 mixed-use residential and commercial units. TMG estimates that the development could generate up to $17 billion in sales and over $1.5 billion in recurring annual revenue once completed. The company aims to finalize negotiations and secure the land before the end of 2025.
This initiative follows a series of Egyptian investments in Iraq’s reconstruction efforts. In February 2024, Ora Developers, led by Naguib Sawiris, signed an agreement for the “Ali Al-Wardi New City” near Baghdad. Iraqi Prime Minister Mohammed Shia Al-Sudani had previously stated that contracts with Egyptian companies had surpassed 600 billion Iraqi dinars.
TMG’s potential expansion into Iraq represents another major step in the country’s urban development strategy and reinforces growing economic cooperation between Egypt and Iraq.
Source: IraqiNews.com
