The Egyptian real estate company, Talaat Moustafa Group Holding (TMGH), controlled by one of the country’s billionaires, Hisham Talaat Moustafa, has just secured an investment license in Iraq, valued at $18.8 billion.
Reports indicate that the group has secured the investment license numbered 2026/515, issued on May 24, 2026, for an integrated project in Baghdad, Iraq’s capital, with estimated sales of $18.8 billion.
The deal would ensure construction on a land area encompassing 12.8 million square meters and would comprise approximately 43,000 residential units.
Additionally, the project is intended to provide housing for a population exceeding 250,000 individuals.
The scope of the project extends to non-residential infrastructure, including both administrative and commercial assets, as seen on IraqiNews.
