Egyptian Prime Minister Mostafa Madbouly has overseen the launch of The Spine, a mega development in New Cairo described as an AI-powered cognitive city that its developers say will contribute approximately 1% of Egypt’s gross domestic product and create more than 150,000 jobs.
The project is led by Talaat Moustafa Group in partnership with the National Bank of Egypt, with investments exceeding 1.4 trillion Egyptian pounds. It will be located within the Madinaty area and will include 165 mixed-use towers alongside extensive green spaces.
Madbouly said the development is projected to generate tax revenues surpassing 800 billion Egyptian pounds and will reinforce investor confidence in Egypt as a stable investment destination. “Egypt remains a safe and stable investment destination capable of delivering strong returns despite global uncertainties,” he said.
Hisham Talaat Moustafa, CEO and managing director of Talaat Moustafa Group, described the project as an integrated economic model rather than a conventional real estate development. “The Spine is not just a project, but a vision for building future cities and transforming them into globally competitive economic platforms,” he said. The development was based on more than five years of studies conducted in collaboration with international consultancies.
The project adopts a Special Investment Zone model, offering a flexible regulatory framework, streamlined procedures, competitive incentives, dedicated customs systems and advanced digital infrastructure. Moustafa described it as a cognitive city powered by artificial intelligence and smart management systems, combining residential, commercial, financial and entertainment components within an integrated ecosystem.
The development is expected to create approximately 55,000 direct jobs and 100,000 indirect jobs and attract tens of millions of visitors annually. “The goal is not just to build towers, but to build a complete economic system,” Moustafa said.
