{"id":665907,"date":"2025-05-26T00:00:00","date_gmt":"2025-05-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/26\/tmg-inks-mou-with-iraqi-government-to-develop-baghdad-project\/"},"modified":"2025-05-26T00:00:00","modified_gmt":"2025-05-26T00:00:00","slug":"tmg-inks-mou-with-iraqi-government-to-develop-baghdad-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/26\/tmg-inks-mou-with-iraqi-government-to-develop-baghdad-project\/","title":{"rendered":"TMG inks MoU with Iraqi government to develop Baghdad project"},"content":{"rendered":"

TMG is officially heading to Baghdad: <\/strong>Talaat Moustafa Group (TMG) has signed an MoU with Iraq's National Investment Commission to develop a mixed-use project in South-West of Baghdad, marking the company's entry into the Iraqi market, according to a statement (pdf)<\/a> from the company and another<\/a> from the Iraqi government. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The details:<\/strong> The project, located in Baghdad\u2019s new administrative capital Al Rafeel City, will span 14 mn sqm and include around 46k residential and commercial units, as well as schools, hotels, and other services. <\/p>\n

We knew this was in the pipeline: <\/strong>TMG confirmed last month<\/a> that it was working on a USD<\/a>10 bn project in Iraq<\/a>. The project is expected to generate an estimated USD 17 bn in total sales and a recurring income of more than USD 1.5 bn per year once it is completed. <\/p>\n

What they said: <\/strong>\u201cThis is an opportunity that has been identified and understudy by the Group for the last year, and given the strong recovery of the Iraqi economy and the supply gap of quality residential offerings in the market, TMG believes it is best positioned to exploit this attractive opportunity achieve deliver compelling returns from its expansion into Iraq,\u201d the real estate developer said in the statement. <\/p>\n

TMG is on a roll:<\/strong> The developer just announced its plans to expand into Oman<\/a>, signing an agreement with the Omani Housing Ministry to develop two mixed-use developments in the Gulf nation. The projects will see investments of OMR 1.5 bn and provide 13k residential and hotel units, generating OMR 1.8 bn from sales.<\/p>\n

PARTMENT LAUNCHES PARTMENT STAYS- <\/p>\n

Partment expands into short-term rentals:<\/strong> Proptech startup Partment has launched Partment Stays, a comprehensive platform that transforms underutilized properties into professionally managed short-term rentals while helping property owners navigate new holiday home rental regulations<\/a>, according to a press release (<\/a>pdf)<\/a>. Partment Stays will manage all the paperwork and regulation processes on owners\u2019 behalf, as well as offer a complementary consultation on what works best for their property, after that it will take over the \"management of the property\u2019s design, furnishing, guest experience, payouts, and everything in between,\u201d co-founder and CEO Nadim Nagui told EnterpriseAM.<\/p>\n

REMEMBER-<\/strong> The government aims to attract some 25 mn tourists<\/a> annually by 2028, creating demand for an estimated 250k additional rooms \u2014 a gap that platforms like Partment Stays are positioned to help fill beyond traditional hotel accommodation, especially in the North Coast, which Nagui claims has started to attract a lot of foreign travelers.<\/p>\n

\u201cThis is a natural evolution for us as a company<\/strong>,\u201d Nagui explains. \u201cWe see a lot of potential in underutilized properties, and we\u2019re very big on sustainability when it comes to real estate development and usage.\u201d Partment\u2019s ambitions extend beyond property rentals. The company is testing a private chauffeur service and considering additional lifestyle services like yacht rentals, or personal trainers.<\/p>\n

AND- Aljar Development and NHMC Group UK unveiled a 46 acre project, Aljar <\/strong>British District in East Cairo<\/strong>, according to a statement<\/a>. The project will house hotel and residential units, a 24-acre medical city, commercial and administrative spaces, and an educational zone. The medical city is set to host the first accredited British medical school in Egypt, awarding degrees from Aston University. Construction has begun and delivery is expected within the coming three years. <\/p>\n","protected":false},"excerpt":{"rendered":"

The project will span 14 mn sqm and include 46k residential and commercial units<\/p>\n","protected":false},"author":1,"featured_media":665908,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[72,552,83,1517],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-665907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-enterpriseam","tag-iraq","tag-real-estate","tag-talaat-moustafa-group","wpautop","entry"],"acf":{"mongo_id":"b5db17f0-230a-4be2-be63-4e0e08c06f16","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/2089.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TMG inks an MoU with the Iraqi government to develop a project in Baghdad","related_issue":[665895],"teaser":"The project will span 14 mn sqm and include 46k residential and commercial units","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.7090ae55-9621-4e45-9567-3ae99ac4e644.mp3"},"yoast_head":"\nTMG inks MoU with Iraqi government to develop Baghdad project - 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PLUS: Willow Ferro, ExxonMobil,","author":"enterpriseam admin","date":"30 April 2025","format":false,"excerpt":"The project is set to generate an estimated USD 17 bn in total sales","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1889.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664391,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/tmg-eyes-usd-10-bn-administrative-city-project-in-iraq\/","url_meta":{"origin":665907,"position":1},"title":"TMG eyes USD 10 bn administrative city project in Iraq","author":"enterpriseam admin","date":"29 April 2025","format":false,"excerpt":"TMG is planning to complete the project in five years","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664428,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/tmg-confirms-iraqi-mega-project\/","url_meta":{"origin":665907,"position":2},"title":"TMG confirms Iraqi mega project","author":"enterpriseam admin","date":"29 April 2025","format":false,"excerpt":"Good afternoon, all. We have a relatively quiet newsday so far, led by real estate news on the home front and Canada\u2019s federal election globally. THE BIG STORY TODAY- TMG confirms multi-bn USD Iraqi project: Real estate giant Talaat Moustafa Group (TMG) is in advanced negotiations with the National Investment\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":665549,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/","url_meta":{"origin":665907,"position":3},"title":"TMG announces Oman expansion with two developments in the pipeline","author":"enterpriseam admin","date":"20 May 2025","format":false,"excerpt":"Combined sales from the projects are expected to reach OMR 1.8 bn \u2014 equivalent to USD 4.7 bn","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1608.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":640759,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/01\/talaat-moustafa-group-readies-for-iraq-expansion\/","url_meta":{"origin":665907,"position":4},"title":"Talaat Moustafa Group readies for Iraq expansion","author":"enterpriseam admin","date":"1 September 2024","format":false,"excerpt":"The company said that it would announce further details once \u201cexecutive procedures commence.\u201d","rel":"","context":"In "Construction"","block_context":{"text":"Construction","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/construction\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2143.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":676633,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/03\/tmg-eyes-usd-4-7-bn-in-sales-from-newly-inaugurated-oman-developments-2\/","url_meta":{"origin":665907,"position":5},"title":"TMG eyes USD 4.7 bn in sales from newly inaugurated Oman developments","author":"enterpriseam admin","date":"3 December 2025","format":false,"excerpt":"Jood is a residential that will span 2.7 mn sqm within Sultan Haitham City, while Yamal is a 2.2 mn sqm coastal tourism and residential project","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/12\/156.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/665907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=665907"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/665907\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/665895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/665908"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=665907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=665907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=665907"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=665907"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=665907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}