30 - Talaat Moustafa Group

34Current ProjectsMadinatyTMG is currently developing Madinaty, the largest purpose-built,fully-integrated residential community development in Egypt.Madinaty is spread over 33.6 mn sqm with a plannedaccommodation capacity of 600,000 residents. Madinatydevelopment is planned to take place in eight overlapping phases,each approximately three to four years in duration, originallyscheduled for completion in 2026. Amongst others, the projectwill encompass apartments with a total BUA of 10.2 mn sqm,villas with a total BUA of 2.8 mn sqm, 8 hotels, a university, 15schools, 3 shopping malls with a total BUA area of 238,000 sqm,2 social /sporting clubs stretching over a land area of 420,000sqm each, a business district that includes an office park, atechnology park, a conference center and an exhibition centerwith a total BUA of around 385,000 sqm.Land bankThe project is an extension to New Cairo, and its land bank islocated approximately 35 kilometers East of Cairo on Cairo-Suezroad, with an access to the planned second ring road. The sitelies 30 minutes away from Heliopolis and 45 minutes away fromdowntown Cairo.TMG acquired Madinaty's land bank from the Government ofEgypt. Payment for the land is agreed to be made in-kind in theform of finished resedintial units, representing 7% of the site’smaximum possible residential build up area to be delivered uponcompletion of each phase.Master plan & developmentTMG is establishing Madinaty to become an independent city,conforming with international standards. In search for perfection,the company assigned three prominent American companies,SASAKI, HHCP, and SWA, specialized in self sustained urbancommunity planning to design Madinaty to cater to the middleand upper-middle classes of the society. The project is designedto provide residents with a full-service independent city while