Saturday 18/April/2026 – 03:22 PM
Businessman Hisham Talaat Mostafa, CEO and Managing Director of Talaat Mostafa Holding Group, launched The Spine project within Madinaty with investments exceeding 1.4 trillion pounds, and a paid-up capital amounting to 69 billion pounds, with the participation of the National Bank of Egypt, in a project that aims to achieve a direct contribution equivalent to 1% of the gross domestic product, in addition to providing 55,000 direct job opportunities and 100,000 indirect job opportunities, in addition to achieving an expected tax revenue of 818 billion pounds for the state’s general budget, which consolidates the project’s position as one of the largest private projects with a direct impact on the Egyptian economy.
“The Spine” project details
This came during his speech at a press conference, today, Saturday, to announce the launch of the project in the presence of Dr. Mostafa Madbouly, Prime Minister, Hassan Abdullah, Governor of the Central Bank, Ahmed Kajouk, Minister of Finance, and Engineer Randa El Minshawy, Minister of Housing, Utilities and New Urban Communities, where Hisham Talaat Mostafa stressed that The Spine does not represent a traditional real estate project, but rather presents an integrated economic model aimed at transforming Egypt into a major destination for global companies and international investments.
He pointed out that the project aims to receive tens of millions of visitors annually, supporting economic, service, commercial and tourism activities, and strengthening Egypt’s position as a regional center for business and investment.
Reviewing the details of the project, Hisham Talaat Mostafa explained that The Spine includes 165 towers that vary between residential, administrative, and hotel uses, and embodies an advanced model of what is known as Cognitive City, or the integrated knowledge city, which relies on artificial intelligence and smart management systems, to be a global destination that combines modern housing, finance, business, shopping, entertainment, and innovation within an integrated urban system.
Establishing a complete underground logistics road network
He added that the project witnesses, for the first time, the establishment of a complete underground logistical road network, in a step aimed at transforming the city from a traditional urban bloc into a smart entity that interacts with its users and develops according to their needs.
He explained that the project includes more than one and a half million square meters of green spaces and open areas, representing 70% of the total surface of the project, which enhances standards of sustainability and quality of life, in addition to insurance coverage exceeding 30 billion pounds, while providing the latest international medical services through Houston Methodist.
He stressed that the design of the project takes into account reducing carbon emissions and achieving a clean and balanced environment, in line with global trends to preserve public health and support the concept of Longevity, as well as an urban design aimed at reducing noise and providing a quiet environment suitable for residence and work.
Hisham Talaat Mostafa pointed out that the project was not the result of an emergency idea, but rather came as a result of more than five years of studies with the participation of major international expert houses, to answer a pivotal question: How does Egypt become a first destination for international companies?
He explained that the answer was to adopt an advanced model of a special investment zone (SIZ), which provides a flexible regulatory framework, simplified procedures, competitive incentives, and special customs departments, in addition to a flexible business environment, speed in establishing companies, advanced digital infrastructure, and true integration between work and life.
He added that the project is not limited to providing real estate units, but rather provides an integrated global business system, stressing that the project’s philosophy is based on building a new economic model, not just developing towers, saying: We are not just building towers…we are building an integrated economic model.
He stressed that the project comes in response to rapid global transformations, including the restructuring of economic power centers and the escalation of international competition to attract investments and minds, noting that Egypt is moving steadily in this direction under the leadership of President Abdel Fattah El-Sisi, and with a vision that places the economy and development at the top of priorities.
He stressed that the importance of the project is not only related to its investment size or economic returns, but rather to the confidence it reflects in the Egyptian economy, confidence in the ability of the private sector, and confidence in the future.
Hisham Talaat Mostafa sent a message to the business community, stressing that The Spine does not represent a traditional investment opportunity, but rather an invitation to participate in building one of the most important business centers in the region, within an environment designed to enable investors to succeed and launch into global markets.
Hisham Talaat Mostafa stressed that there are projects that are being implemented, and others that reformulate the rules of the game, stressing that The Spine belongs to the second category, because it does not only launch a new project, but rather establishes a new stage in the industry of the future.
