Egyptian real estate giant Talaat Moustafa Group (TMG) has received official approval to launch a major urban development project in Iraq, marking a significant step in the company’s regional growth plans. The Baghdad mega development project carries an estimated sales value of $18.8 billion and is expected to become one of the largest residential investments in the Iraqi capital.
TMG announced that Iraq’s National Investment Commission granted the company an investment license for the ambitious project. The development will cover approximately 12.8 million square meters in Baghdad and aims to deliver a modern integrated community designed to accommodate a rapidly growing population.
According to the company, the project will include nearly 43,000 residential units. Once completed, the new community could provide housing for more than 250,000 residents. However, The scale of the investment reflects increasing interest from regional developers in Iraq’s expanding real estate sector.
The Baghdad mega development project will not focus solely on housing. Plans also include a range of commercial and administrative facilities that will support business activity and daily services. Developers intend to create a mixed-use destination that combines residential living with economic opportunities and modern infrastructure.
TMG selected a strategic location within Baghdad for the project. The site sits close to Baghdad International Airport and near the capital’s financial and economic district.As well as, company officials believe the location will enhance the project’s attractiveness to both residents and investors.
The Egyptian developer described the approval as a major milestone in its strategy to expand beyond its domestic market. TMG has built a strong presence in Egypt through large-scale residential and mixed-use communities. The Baghdad investment represents one of its most significant ventures outside the country.
Financial projections indicate substantial long-term returns. The company expects total sales generated by the project to reach approximately $18.8 billion. In addition, rental properties and hospitality assets within the development could generate around $108 million in recurring annual revenue.
TMG outlined a long-term construction schedule for the development. The building phase is expected to extend over roughly 16 years, reflecting the project’s size and complexity. Meanwhile, the company anticipates selling all residential units within about 12 years.
The Baghdad mega development project arrives as Iraq continues efforts to attract foreign investment and address housing demand. Large-scale developments have become increasingly important as authorities seek to modernize urban infrastructure, expand residential capacity, and stimulate economic growth across the country.