Egyptian President Abdel Fattah el-Sisi called on businessman Hisham Talaat Moustafa, chairman of Talaat Moustafa Group, to contribute to a housing project aimed at providing between 100,000 and 200,000 rental housing units, as part of efforts to strengthen the social responsibility of major investment projects. Joking with the businessman, Sisi said: \u201cI haven\u2019t come down too hard on you.\u201d<\/p>\n
The remarks came during a session on urban development at the Egypt Forum 2026 on Tuesday, following the announcement of an agreement between the state and Talaat Moustafa Group to develop, build, and operate four major mixed-use projects, with announced investments totaling EGP 11 trillion ($201 billion).<\/p>\n
Speaking to Hisham Talaat Moustafa, Sisi stressed that major investment projects must be accompanied by a clear social role. \u201cYou can\u2019t undertake projects worth this much and then fail to provide a community service. Where is the community service?\u201d he asked.<\/p>\n
He suggested that the group could contribute to providing 100,000 or 200,000 rental housing units to help meet citizens\u2019 needs, emphasizing that social contributions should be commensurate with the scale of investments. He then joked with the businessman, saying: \u201cI haven\u2019t come down too hard on you.\u201d<\/p>\n
Hisham Talaat Moustafa responded: \u201cAs you wish, Mr. President,\u201d pointing to the private sector\u2019s contributions to social initiatives, including the \u201cDecent Life\u201d initiative and the \u201cLong Live Egypt\u201d Fund.<\/p>\n
Sisi clarified, however, that the requested contribution was different from participation in those initiatives, saying: \u201cNo, no, that\u2019s one thing, and this is another.\u201d He noted that allocating 1% of the announced investments would amount to EGP 100 billion ($1.8 billion), adding: \u201cIf I take 1% from you, I\u2019ll be taking EGP 100 billion.\u201d<\/p>\n
The Egyptian president stressed that the benefits of major investment projects should extend to society rather than being limited to economic and investment returns. He called on businessmen and investors to participate in development efforts and help meet citizens\u2019 needs.<\/p>\n
The Egypt Forum 2026 also witnessed the announcement of an agreement between the state and Talaat Moustafa Group to develop, build, and operate four major mixed-use projects, with total announced investments of approximately EGP 11 trillion ($201 billion).<\/p>\n
The projects include the North of Madinaty development, a project in Alexandria covering 11.3 million square meters, an integrated industrial, logistics, and real estate development in the Abu Qir area, and a coastal destination on the North Coast modeled on the \u201cSouthMED\u201d project.<\/p>\n
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