By John Lee.
Talaat Moustafa Group (TMG) has received an investment licence and secured a land bank of approximately 12.8 million sqm in south-west Baghdad to develop an integrated urban community, in what the Egyptian group describes as a key milestone in its regional expansion strategy.
According to TMG Holding, its subsidiary Talaat Moustafa Company Baghdad received investment licence number 2026/515 from the National Investment Commission (NIC) on 24th May 2026.
The project is expected to generate cumulative sales of approximately USD 18.8 billion, with recurring annual revenues of around USD 108 million upon full completion from leasing and hospitality assets, and an overall gross margin of approximately 20%. The development period is estimated at 16 years, with full sell-out anticipated within 12 years.
The planned community will include:
- Approximately 43,000 residential units, accommodating around 250,000 residents
- Approximately 2.3 million sqm of non-residential built-up area
- A regional mall, office and administrative space, and hospitality facilities
- Educational, healthcare, religious, and civic institutions
- A large-scale sports and social club, entertainment venues, parks, and open green spaces
The site, located within Baghdad Financial and Economic City, has direct connectivity to key financial and administrative districts and is close to Baghdad International Airport.
The Iraq project will grow TMG's total land bank from 115 million sqm to approximately 128 million sqm and is expected to add around USD 3.58 billion in incremental land bank value. The group's land bank in the Gulf region will reach approximately 28 million sqm. The project is being executed through TMG's Saudi Arabia entity.
(Source: Talaat Moustafa Group Holding)
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