Egyptian real estate developer Talaat Moustafa Group has announced plans to build a new city east of Cairo with an estimated investment value of $27 billion.

The project represents one of the largest urban development initiatives in Egypt's recent history. Talaat Moustafa Group, one of Egypt's leading real estate developers, unveiled the ambitious development plan as part of the country's ongoing expansion efforts in the greater Cairo metropolitan area.

The new city is planned for construction in the area east of Cairo, adding to Egypt's growing portfolio of new urban developments. The Egyptian government has been promoting the development of new cities to address population growth and urban expansion needs in the Cairo region.

Talaat Moustafa Group has been a major player in Egypt's real estate sector, with previous developments including residential and commercial projects across the country. The company's announcement comes as Egypt continues to attract investment in large-scale infrastructure and urban development projects.

The $27 billion investment figure positions this project among the most significant private sector development initiatives in Egypt's real estate market. Further details about the project timeline, specific location, and development phases have not been disclosed.