Egypt signs EGP 11 trillion development deal with Talaat Moustafa Group
President Sisi announced the agreement for four mixed-use projects and directed the construction of hundreds of thousands of rental housing units.
Egypt has agreed an EGP 11 trillion (USD 202 billion) deal with the Talaat Moustafa Group to develop four major mixed-use projects. The agreement was announced on Tuesday, October 20, during Egypt Forum 2026. President Abdel Fattah el-Sisi also directed the construction of hundreds of thousands of new rental housing units.
The projects include developments north of Madinaty and an 11.3-million-square-metre site in central Alexandria, alongside an industrial and logistics project in Abu Qir and a North Coast destination. Prime Minister Mostafa Madbouly stated that the government aims to ensure citizens across income groups can access suitable housing over the next four years, combining rental and ownership options.
Madbouly said the government seeks to revive rental housing, which declined from the 1960s and 1970s, as a key option alongside ownership. He noted that rental housing accounts for about 50% of the market in many developed economies. The government has implemented, is implementing, or is completing around two million housing units in recent years.
Why it mattersEgyptians will have access to new rental and ownership housing options over the next four years.