Cairo - Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) has launched The Spine, a landmark mixed-use development within its flagship Madinaty project, with total investment costs exceeding EGP 1.40 trillion.
The development scheme will span around 3.90 million square meters (m²) of built-up area and feature 165 mixed-use towers designed as a next-generation downtown destination, according to a bourse filing.
It will introduce a fully integrated economic and business ecosystem, alongside a digital platform connecting users to smart services, as well as an underground logistics network aimed at improving efficiency, mobility, and sustainability.
Through a majority-owned subsidiary with a paid-in capital of EGP 69 billion, the company's project will form the metropolitan core of Madinaty in East Cairo, near the New Capital.
Developed within a Special Investment Zone (SIZ) and free economic zone framework, the project will benefit from streamlined procedures, competitive incentives, and special customs regimes, supporting a flexible regulatory environment.
TMG Holding expects the project to generate over EGP 1.70 trillion in total sales throughout its development cycle, with net margins ranging between 20% and 25% on real estate sales.
Upon completion, the development is projected to deliver recurring revenues exceeding EGP 50 billion annually, with targeted margins of 65% to 90%, strengthening the group’s portfolio of income-generating assets and diversifying its revenue streams.
The equityholders of TMG Holding recently greenlighted cash dividends totaling EGP 618.19 million for 2025.
