News / 25 May 2025Talaat Moustafa Group Signs Agreement to Develop Sustainable City in Iraq
Continuing its leadership in developing sustainable communities, Talaat Moustafa Group announced the signing of a Memorandum of Understanding (MoU) with the Iraqi National Investment Commission to develop a sustainable city project in Iraq, spanning approximately 14 million square meters.
The signing ceremony, held today, Sunday, was attended by Iraqi Prime Minister Mohammed Shia' Al Sudani, along with His Excellency Iraqi Minister of Investment Dr. Haider Makkiya, Chairman of Talaat Moustafa Group Eng. Hisham Talaat Moustafa, and Chairman of Al Muhaidib Group Sulaiman Abdulkadir Al Muhaidib.
The project will be located in southwest Iraq and is expected to feature approximately 46,000 multi-use units. This development will follow the successful model of integrated communities implemented by the group in Egypt and Saudi Arabia, which combines high-quality housing, advanced infrastructure, and comprehensive services, with a strong focus on sustainability and smart technologies.
This expansion into Iraq, following the group's entry into the Omani market earlier this month, represents a strategic step towards solidifying its position as a leading regional developer in the Arab world. Its land portfolio now includes:
- 29 million square meters in regional markets.
- 81,000 anticipated units across the three projects.
- $33 billion USD in projected sales over the lifetime of the projects.
- $1.7 billion USD in expected annual revenues from recurring income assets.
This achievement reflects the commitment of Talaat Moustafa Group and Al Muhaidib Group to investing in the development of smart, sustainable communities that contribute to the advancement of Arab cities and align with regional development goals