{"id":32382,"date":"2026-04-18T17:24:27","date_gmt":"2026-04-18T15:24:27","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=32382"},"modified":"2026-04-18T17:40:38","modified_gmt":"2026-04-18T15:40:38","slug":"egypts-talaat-moustafa-group-to-build-27-billion-city-east-of-cairo","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/egypts-talaat-moustafa-group-to-build-27-billion-city-east-of-cairo\/","title":{"rendered":"Egypt&#8217;s Talaat Moustafa Group to build $27 billion city east of Cairo"},"content":{"rendered":"<div>Egypt&#8217;s Talaat Moustafa Group will build a new 1.4 trillion \u200bEgyptian Pound ($27 billion) mixed-use city east \u200cof Cairo, CEO and Managing Director Hisham Talaat Moustafa said at a press conference \u200bon Saturday.<\/div>\n<div><\/div>\n<div>The project, called The Spine, \u200bis to be developed in partnership \u2060with the National Bank of Egypt, \u200bwith a paid-up capital of 69 \u200bbillion Egyptian Pounds ($1.3 billion).<\/div>\n<div><\/div>\n<div>The project, to be built as a Special Investment Zone with TMG&#8217;s \u200bMadinaty, covers approximately 2.4 million square \u200bmetres of land, combining residential, commercial, hospitality, retail, \u200centertainment, \u2060and public green space within a single continuous urban environment.<\/div>\n<div><\/div>\n<div>The investment is equivalent to roughly 1% of Egypt&#8217;s GDP, \u200baccording to \u200bMoustafa, and \u2060is projected to generate approximately 818 billion Egyptian Pounds in \u200btax revenues for the state \u200bbudget \u2060over time.<\/div>\n<div>The project is expected to create more than 55 000 direct jobs and \u2060hundreds \u200bof thousands of indirect \u200bpositions.<\/div>\n<div><\/div>\n<div><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":16300,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-32382","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The project is expected to create more than 55 000 direct jobs and \u2060hundreds \u200bof thousands of indirect \u200bpositions.","published_date":"","news_description":"The project is expected to create more than 55 000 direct jobs and \u2060hundreds \u200bof thousands of indirect \u200bpositions.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32382\/revisions"}],"predecessor-version":[{"id":32384,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32382\/revisions\/32384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/16300"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=32382"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=32382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}