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Hisham Talaat Moustafa, the CEO of Egypt's biggest listed property developer, sat down with Prime Minister Mostafa Madbouly on March 12 to lay out Talaat Moustafa Group's plans for its next phase of investment in the country, including a large new development in East Cairo that the group is pushing forward within its Madinaty community.
The meeting drew together a senior government contingent. Finance Minister Ahmed Kouchouk, Housing Minister Randa al-Menshawy and Investment and Foreign Trade Minister Mohamed Farid were all in the room, alongside former investment minister Ashraf Salman.
Madbouly used the occasion to signal the government's direction. He said the administration is focused on building an environment that pulls in both local and foreign investment, with real estate, urban development and tourism among its priority sectors. The message was consistent with how the government has framed its economic agenda in recent months, putting private sector engagement at the center of its growth strategy.
Moustafa, for his part, updated the prime minister on TMG's project pipeline and laid out the group's development footprint. He said the communities built by TMG now house more than 1.2 million people, with about 600,000 of those residents living in Madinaty, the massive planned city east of Cairo that remains the cornerstone of the group's portfolio.
The centerpiece of the forward-looking conversation was a large new project TMG is planning within the Madinaty area. Moustafa described it as a mixed-use development that would bring together residential units, office space, hotels, commercial areas and entertainment facilities, though specific financial figures and timelines were not disclosed at the meeting.
TMG has been on a strong run. The group reported net profit of about $381 million in 2025, a 43 percent jump on the previous year, driven by a 50 percent increase in real estate revenue and a strong performance from its hotel portfolio. Contractual sales hit $8 billion during the year, cementing its position as the dominant player on the Egyptian Exchange in the property sector. Forbes Middle East ranked TMG as Egypt's top listed real estate developer for 2026, based on its market capitalization as of January 31, 2026.
Moustafa's return to the top of Egyptian business has been one of the more striking corporate stories in the region. He was convicted in 2009 of involvement in the murder of Lebanese singer Suzanne Tamim and sentenced to 15 years in prison, later reduced on appeal. He was released in 2017 after receiving a presidential pardon and returned to TMG as chief executive, stepping back into a company that had grown substantially during the years he was away. Since then, he has steered the group through one of its most productive stretches, including the launch of Noor City, billed as Egypt's first green-smart city, and the SouthMed project on the North Coast, valued at approximately $20.9 billion.
The East Cairo project discussed at Thursday's meeting represents the group's next statement of intent in its home market, a large bet on continued demand from a population that has been absorbing new planned communities faster than most forecasters expected.
