Iraq is in conversations with the Talaat Moustafa Holding Group (TMG) in Egypt, the largest real estate developer in the Egyptian stock exchange, to build a new administrative capital in the capital of Iraq, Baghdad.
Accordance To Sala Mohamed Amin, president of the National Investment Commission of Iraq, the capital will cover more than 38 million square meters, with investments close to USD 10 billion (EGP 507.4 billion), Iraq expects “to reach an end 3”, the Eggtion with the eg description with one, however, with the Egypt, with the Egypt of Egypt, with the Egypt. APRENDE ME MEMEMEMEMEMEMIIA, confirm.
The development of mixed use on a large scale in Iraq is projected To generate total sales of approximately USD 17 billion (EGP 862.58 billion), with annual recurring income that is expected to exceed USD 1.5 billion (EGP 76.11 billion) at the end.
Waiting for the conclusion of ongoing negotiations, TMG early Ensure the land of the Iraqi authorities project before the end of the year.
The announcement follows a series of in -depth exploratory meetings and market evaluations, accordance to TMG. The initiative seeks to replicate the second TMG incursion into international markets.
In September 2023, TGM presented “Banan al Riyadh”, an extensive city in Riad, carried out in collaboration with the National Housing Company of Saudi Arabia. Reach 10 million square meters in the Al-Fursan suburb, the project entails an estimated investment of USD 17.5 billion (EGP 886.95 billion) and is scheduled to offer an approach of 28,000 housing units of about eight years.
Among the emblematic TMG developments in Egypt are Madinaty, Al Rehab and Celia, the Lattter located in the new administrative capital of the country. The group is also advanced Noor, a new city that rises to the east of Cairo. With a projected investment of up to EGP 500 billion (USD 9.86 billion), the ambitious company will include 140,000 housing units.
