Talaat Moustafa Group's $21 Billion SouthMED Project

Egypt's Talaat Moustafa Group plans to invest $21 billion in the North Coast SouthMED project. The development covers 23 million square meters on the Mediterranean coast west of Alexandria and is expected to generate $35 billion in sales, according to CEO Hisham Talaat Moustafa.

Egypt's Talaat Moustafa Group is to invest $21 billion in Egypt's North Coast SouthMED project, its chief executive announced at a press conference on Tuesday.

The SouthMED development, which spans 23 million square meters of land on the Mediterranean coast west of Alexandria, is expected to generate sales of about $35 billion, CEO Hisham Talaat Moustafa said.