The construction of the $27bn+ the Spine ‘city within a city’ in Cairo is taking shape as the government asserts the project’s go ahead. Talaat Moustafa Group (TMG) noted that it would build the new city just east of Cairo. Furthermore, managing director Hisham Talaat Moustafa noted that it would be done in partnership with the National Bank of Egypt. It is to be done with a paid-up capital of 69 billion Egyptian pounds ($1.3 billion).

The city is to be built as a Special Investment Zone with TMG’s Madinaty. It will also cover approximately 2.4 million square meters of land. It will combine residential, commercial, hospitality, retail and entertainment. Moreover, it will include a public green space within a single continuous urban environment. The investment is equivalent to roughly 1% of Egypt’s GDP according to Moustafa. Once complete, it is projected to generate approximately $15.8 billion in tax revenues for the state budget over time.

Other Projects

Another significant city project that is advancing in Egypt is the New Administrative Capital which has Africa’s tallest Iconic Tower as its centerpiece. Egypt’s New Administrative Capital (NAC), designed to relieve Cairo’s congestion, is operational as of early 2026. The parliament, key ministries, and financial district have been relocated. The $58+ billion city, featuring Africa’s tallest tower, is rapidly expanding, with 5,000 families living there and new developments like “The Spine” enhancing its commercial capacity.

 Scope and Significance of the Spine City in Cairo

Once the Spine City is complete, it is expected to facilitate far more than just economic impact. It is expected to create more than 55,000 direct jobs and hundreds of thousands of indirect positions. The Ministry of Investment and Foreign Trade approved the project’s application as the nation’s first Special Investment Zone.

The SIZ model represents a new generation of investment frameworks that integrates a customs zone with an on-site executive office for GAFI. This enables faster establishment, licensing, and also operational procedures within a single administrative structure.

The Spine comprises 165 towers spanning residential, administrative, and hotel uses. It also includes more than 1.5 million square meters of green and open spaces, representing 70% of its total area. This enforces the essence of biodiversity in infrastructure projects across the nation. Once operational, it is also expected to attract tens of millions of visitors annually.

Project Overview

• Project Name: The Spine City
• Project Type: Mixed-use urban development
• Value: $27 billion+
• Purpose: Integrated residential, commercial, and lifestyle city
• Status: Approved; advancing toward development

Key Stakeholders

• Developer: Talaat Moustafa Group
• Financial Partner: National Bank of Egypt
• Government Authority: Ministry of Investment and Foreign Trade Egypt
• Regulator: GAFI
• Key Figure: Hisham Talaat Moustafa

Location

• City: Cairo (east of city)
• Country: Egypt
• Development Zone: Adjacent to Madinaty

Scope

• ~2.4 million sqm mixed-use development
• 165 towers (residential, office, hotel)
• Also large green/open space (~70% of site)

Funding / Delivery Model

• Special Investment Zone (SIZ) framework
• Public-private partnership structure
• Capital base: ~EGP 69 billion

Status

• Government approval secured
• Designated as first Special Investment Zone
• Also early development phase underway

Key Risks & Challenges

• Large-scale financing and execution complexity
• Market absorption for mixed-use assets
• Also coordination under new SIZ framework

Strategic Significance

• Equivalent to ~1% of Egypt’s GDP
• New model for investment zones (SIZ)
• Also major urban expansion east of Cairo

Economic Impact

• 55,000+ direct jobs
• Significant indirect employment generation
• ~$15.8 billion projected tax revenues

Key Features

• Integrated “city within a city” concept
• Also fast-track licensing via GAFI presence
• Designed to attract high visitor volumes