• TMG is going regional, with expansion plans targeting Iraq, the Gulf, and North Africa to diversify revenue and reduce currency risk.
• The Egyptian real estate giant is in advanced talks for a USD 10B administrative city project on 35 million sqm in Baghdad.
• With rising hotel revenue and record sales, TMG is doubling down on hard currency markets to fuel long-term growth and resilience.

TMG

Talaat Moustafa Group (TMG) is eyeing MENA’s next real estate frontiers, the Gulf, Iraq, and North Africa. The Egyptian developer is actively exploring expansion opportunities to boost profitability and generate hard currency cash flows.

The Iraq Play

TMG is in advanced talks with Iraq’s National Investment Commission to build a massive administrative city in southern Baghdad. That 35 million sqm of land and a USD 10 billion price tag. 

The goal? To replicate TMG’s full-service, master-planned city model, think housing, and services, but this time on Iraqi soil.

Why Iraq? Political stability is improving, the economy is growing, and the country is throwing open the gates to foreign developers. The Vice President of Iraq’s Investment Commission says Egyptian investment has already hit USD 3 billion and could triple in the next five years.

Not Just Iraq

TMG is also turning its eyes toward the Gulf and North Africa. Furthermore, it is doubling down on hard currency revenues and regional diversification. And it’s already got boots on the ground:

• In Saudi, TMG’s “Banan” project spans 10 million sqm and just racked up over SAR 6.2 billion in pre-booked sales.
• In Egypt, it is scaling up mega projects like “South Med” and is about to launch a new project in Sharm El Sheikh Bay.

The Bigger Picture

TMG is no longer just Egypt’s top developer, it is positioning itself as a regional city builder. With Iraq rolling out the red carpet and Saudi Arabia in full Vision 2030 build mode, the group is going from suburban compound developer to MENA-scale urban planner.

Bottom line: TMG is going regional. Iraq and the Gulf is next. North Africa’s on the radar. As MENA’s mega-project momentum builds, the group is positioning itself squarely in the middle of it.