Talaat Moustafa Group Unveils $17B Mixed-Use Mega Project in Iraq

Talaat Moustafa Group (TMG), Egypt’s largest real estate developer, has announced a major expansion into Iraq through a groundbreaking $17 billion mixed-use development. The project will be constructed on 14 million square meters of land in southwest Baghdad, making it one of the largest private real estate investments in Iraq’s modern history.

This milestone marks TMG’s official entry into the Iraqi market and signals a new phase of regional growth for the developer, which has already established a strong presence across Egypt and the Gulf.

A New Urban Center for Baghdad

The project will feature a complete urban community comprising approximately 46,000 residential and commercial units. These will include villas, apartments, retail zones, and office buildings—blending housing, commerce, leisure, and public services into one integrated environment.

Designed with long-term livability in mind, the development will include:

• Green spaces and parks
• Educational and healthcare facilities
• A transportation network
• Retail centers, restaurants, and entertainment hubs
• Smart infrastructure solutions

The community will be built to international standards and is expected to attract both Iraqi nationals and regional investors seeking high-quality, master-planned real estate in the heart of Iraq.

Projected Revenue and Economic Impact

Once fully operational, the project is expected to generate over $1.5 billion in annual recurring revenue. This includes income from property sales, rentals, commercial operations, and managed services across the development.

Beyond revenue, the project will have a significant economic impact on the region:

• Job creation across construction, engineering, operations, and retail
• Urban renewal in underdeveloped parts of Baghdad
• Increased foreign investment and regional business confidence

The scale and ambition of the project align closely with Iraq’s ongoing efforts to modernize infrastructure and attract private-sector partnerships in non-oil sectors.

Executed Through Saudi-Based Subsidiary

The Baghdad project will be carried out through TMG’s Saudi-based subsidiary, which was created in collaboration with the AlMuhaidib Group, a prominent Saudi investment and development firm. This cross-border partnership combines TMG’s technical and operational experience in large-scale master-planned developments with AlMuhaidib’s regional network and capital expertise.

The joint venture reflects the growing trend of Arab-led investments in Middle Eastern urban development, particularly in countries like Iraq that are actively rebuilding and reforming their economies.

A Growing Middle East Footprint

The Iraq expansion comes as part of TMG’s broader Middle East growth strategy. The company now holds over 29 million square meters of land across Egypt, Saudi Arabia, Iraq, and Oman.

This follows a number of new project announcements and acquisitions by the developer in recent years, including luxury resorts, residential compounds, and city-scale smart developments.

TMG’s vision is to become a pan-regional leader in sustainable urban living, offering large-scale, well-managed developments that respond to the growing demand for secure, livable, and economically vibrant cities across the Arab world.

Timeline and Vision

Land acquisition and project approvals are currently in the final stages. TMG plans to begin construction before the end of 2025.

This project represents more than just a business expansion. It underscores the deepening economic ties between Egypt and Iraq, and demonstrates how large-scale private sector players can support regional development in alignment with public sector goals.

With a reputation built on delivering iconic projects like Madinaty and Noor in Egypt, Talaat Moustafa Group now aims to bring its community-first approach and urban development expertise to Iraq, helping shape the future of Baghdad.