Egyptian Developer Unveils $27 Billion New City Plan Near Cairo: Media
10:01 19.04.2026 (Updated: 10:34 19.04.2026)
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Egyptian Developer Unveils $27 Billion New City Plan Near Cairo: Media
The Spine project by the Talaat Moustafa Group, spanning over 2 million square meters, will feature 165 residential, business, and commercial towers, media reported.
The project is expected to create over 155,000 jobs and attract millions of visitors annually, CEO and Managing Director Hisham Talaat Moustafa was quoted as saying.
“The Spine is the spinal chord of a modern economy now being created,” Moustafa noted at a press conference.
The investment, he added, equals about 1% of Egypt's GDP and should yield roughly $15.78 billion in state tax revenue in the future.
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The Spine project by the Talaat Moustafa Group, spanning over 2 million square meters, will feature 165 residential, business, and commercial towers, media reported.
The project is expected to create over 155,000 jobs and attract millions of visitors annually, CEO and Managing Director Hisham Talaat Moustafa was quoted as saying.
“The Spine is the spinal chord of a modern economy now being created,” Moustafa noted at a press conference.
The investment, he added, equals about 1% of Egypt's GDP and should yield roughly $15.78 billion in state tax revenue in the future.
AI-generated image
Subscribe to @sputnik_africa
Sputnik Africa | X
