Talaat Moustafa Group (TMG) has signed a construction contract worth approximately EGP 10bn ($200m) with Concrete Plus for Engineering and Construction to execute works at its South Med project on Egypt’s northwestern coast. This zone is part of the first phase of the South Med development, which includes nearly 400 buildings. He noted that Phase 1 of South Med covers more than 10 million square metres and includes various zones featuring villas, chalets, and a marina. The South Med development spans a total of 23 million square metres near Alamein Airport. TMG, which has a market value exceeding EGP 149bn ($3.1bn), currently holds a land bank of over 115 million square metres.

Source: Daily News Egypt December 30, 2025 15:55 UTC