Prime Minister Mostafa Madbouly speaks during the launch of a major urban development known as “The Spine,” in New Cairo held at the government headquarters in the New Administrative Capital. Photo courtesy of Egyptian cabinet.
The launch event, held at the government headquarters in the New Capital, was attended by Central Bank Governor Hassan Abdalla, Finance Minister Ahmed Kouchouk, Housing Minister Randa El-Menshawy, and TMG CEO Hisham Talaat Moustafa, alongside senior officials and company representatives.
During the event, Hisham Talaat Moustafa described the project as a new model for integrated economic cities aimed at enhancing Egypt’s global competitiveness and attracting international investment.
According to the developer, “The Spine” is designed as a fully integrated urban and business hub, combining residential, commercial, financial, and entertainment components within a smart, AI-driven city framework.
The project will feature 165 mixed-use towers, alongside extensive green and open spaces covering around 70 percent of the total area.
The development is expected to create approximately 55,000 direct jobs and 100,000 indirect jobs, while contributing an estimated one percent to Egypt’s GDP.
It is also projected to generate around EGP 818 billion in tax revenues over time and attract tens of millions of visitors annually.
The project incorporates a special investment zone model aimed at facilitating business operations through streamlined procedures, competitive incentives, and advanced digital infrastructure, in addition to integrated logistics systems, including underground transport networks.
Officials said the development reflects growing confidence in Egypt’s economy and the private sector's increasing role in driving large-scale urban and economic projects.
Short link: