Egypt Launches $27 Billion ‘The Spine’ Megaproject to Redefine Cairo’s Urban Future
Tetouan – Egypt has unveiled an ambitious urban development east of Cairo, positioning it as a cornerstone project to drive economic growth and reshape the country’s urban landscape.
Announced during an official ceremony attended by Prime Minister Mostafa Madbouly in the New Administrative Capital, the project, named “The Spine”, represents an investment of approximately $27 billion.
It is being developed in partnership between Talaat Moustafa Group and the National Bank of Egypt, reinforcing Cairo’s push to deepen collaboration with the private sector in large-scale infrastructure and real estate ventures.
A large-scale urban transformation
Spanning roughly 2.4 million square meters in New Cairo, “The Spine” is designed as a mixed-use city district, combining residential, commercial, administrative, hospitality, and leisure components.
The development will feature 165 towers and dedicate nearly 70% of its total area to green and open spaces, amounting to more than 1.5 million square meters.
Officials say the project is structured to align with global environmental standards.
Its design aims to reduce carbon emissions, limit noise pollution, and create a balanced urban environment suited for both living and working.
The emphasis on sustainability reflects a broader shift in Egypt’s urban planning strategy, where environmental considerations are increasingly integrated into large developments.
Madbouly described the project as a “global-scale development,” arguing that it will deliver a tangible shift in urban expansion and economic momentum.
Economic impact and long-term returns
Beyond its physical scale, the project carries significant economic weight. Authorities estimate it will generate more than 155,000 jobs, while contributing the equivalent of $15.8 billion in tax revenues over time.
According to Hisham Talaat Moustafa, chief executive of Talaat Moustafa Group, the development is expected to account for roughly 1% of Egypt’s gross domestic product.
He added that it would create more than 55,000 direct jobs alongside 100,000 indirect employment opportunities.
Classified as a special investment zone within the broader Madinaty project, “The Spine” shows Egypt’s strategy of leveraging large-scale urban projects to stimulate growth, attract investment, and redefine the capital’s spatial and economic dynamics.
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