President Abdel Fattah El-Sisi witnessed, on Tuesday, October 20, 2026, the announcement of an agreement between the state and Talaat Moustafa Group to develop, build and operate four major projects with investments of 11 trillion pounds ($227.74 billion), on the sidelines of the second day of the “Egypt Forum 2026,” according to a statement by the official spokesperson for the Presidency, Ambassador Mohamed El-Shenawy.
Hisham Talaat Moustafa, the group’s chief executive and managing director, said the projects cover an area exceeding 37 million square meters, and include an industrial, logistics, real estate and tourism zone of about 10 million square meters next to the new Abu Qir port with investments of 5 trillion pounds ($103.52 billion), a North Madinaty area of about 5 million square meters on the strip between the Suez Road and Madinaty with investments of 3.2 trillion pounds ($66.25 billion), an integrated urban community in Alexandria on 11.3 million square meters with investments of about 1.7 trillion pounds ($35.20 billion), and a North Coast destination modeled on the “South Med” project on about 10.4 million square meters. He added, in his presentation to the forum, that the projects are expected to provide about 6 million direct and indirect jobs, and tax revenue of nearly 2.4 trillion pounds ($49.69 billion).
El-Sisi congratulated the parties on concluding the agreement, and said the state encourages investors in all fields, stressing the importance of the social dimension of investment projects. The announcement of the agreement did not include details of the partnership formula, the state’s share of the projects, their timelines or their sources of financing.
The group develops the Al Rehab, Madinaty, Noor and South Med projects, and announced in April “The Spine” project on the outskirts of Cairo with investments of 1.4 trillion pounds ($28.99 billion). The Supreme Administrative Court had upheld on September 14, 2010 the invalidity of the Madinaty land contract. Hisham Talaat Moustafa was a member of the Shura Council for the National Democratic Party before the January revolution, and was sentenced to death in 2009, a sentence reduced at retrial in 2010 to 15 years in prison on charges of inciting the murder of Lebanese singer Suzanne Tamim in Dubai in 2008, before he was released in June 2017 under a presidential pardon that included 502 prisoners.
Photo: Faris El-Gwely via Wikimedia Commons (CC BY-SA 4.0)
