Egypt’s Minister of Housing, Utilities, and Urban Communities Dr. Assem El Gazzar and Mr. Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group (TMG) Holding, have laid the foundation stone for Noor City project.

The project will be implemented on an area of 5,000 acres located in front of the New Administrative Capital (NAC), and is being developed in partnership between TMG subsidiary, the Arab Company for Urban Investment, and the New Urban Communities Authority (NUCA).

During the press conference Mr. Hisham Talaat Mostafa expressed his gratitude for Dr. Assem Al-Jazzar Minister of Housing’s attendance to Noor City laying foundation Event where the project will create a paradigm shift in the urban development industry in Egypt and a substantial contribution to the national economy.

“Noor City is located in front of the new administrative capital on an area of 5,000 acres, aiming to meet demand in East Cairo, which is currently inhabited by about 4.5 million citizens, and is expected to reach 10 million citizens by 2030.” Said Mr,Hisham Talat Moustafa
He also added:” East Cairo is Egypt’s Hub for development, as it includes nearly 250,000 acres of projects and the administrative capital, where the government institutions, parliament, banks and big companies are located there. This promising area will be the pole of urban development in Egypt in the near future as it’s linked to the development of Suez Canal axis and nearby cities such as the 10th of Ramadan, El Shorouk, Badr and others.”
He added that city was planned with 2021’s philosophy and a scientific vision for the future by the four largest, specialized international companies, namely SWA, SASAKI, BCG, and Perkins Eastman. Noor will be a green smart city that is meeting 21st century 4G cities standards.
He further pointed out that the new city will include a set of integrated services and modern applications for the first time in Egypt, such as 5G technologies.

“We will create a smart city, using the latest technologies, and an advanced fiber optics infrastructure, as well as providing high-speed Wi-Fi in all public, commercial, and service areas. The city will include high accuracy security services through the latest security systems, CCTV cameras, and control rooms in all areas” Talat Moustafa Group’s CEO said.
Talat Moustafa highlighted that Noor City facilities will be managed by utilizing latest technologies as smart irrigation methods to decrease water consumption, the use of clean energy, smart environment friendly transportation, as well as smart lighting system for the whole city. Noor is designed based on the world’s latest trends for integrated cities, creating a paradigm shift in the urban development map in Egypt.
The Real-estate Giant further elaborated: “Nour City will accommodate about 600,000 residents, as well as integrated commercial, administrative and government service areas, similar to what was provided in Rehab and Madinaty, where 850,000 residents are living. Furthermore, the project will be implemented in line with 2021 vision through offering privacy to all residential areas, serving millions in East Cairo area and ensuring to double the units return of investments.
Talaat Mostafa emphasized that the Group will apply a new payment system for the first time in Egypt in order to make Noor, the city of the future available to various segments and accommodate the growing demand in the capital’s east axis. The First installment will be with a minimal cost with a 15 years payment plan in cooperation with government banks as the National Bank of Egypt, Banque Misr, and Banque du Caire.
Noor City is scheduled to include 140,000 housing units, namely buildings and villas, with total investments of EGP 500 billion and will generate taxes for the government worth EGP 110bn, and provide about 3.3m regular and irregular jobs. It will also increase the size of the group's contributions in the corporate social responsibility initiatives, as a result of the company's clients who trust Talaat Mustafa Group and became its partners.
At the end of his speech, Hisham Talaat Mostafa thanked the Central Bank of Egypt, the National Bank of Egypt, Banque Misr and Banque du Caire for their continuous support for the national private sector and for their role in facilitating all challenges in a positive spirit.

He confirmed that Talaat Mostafa Group will utilize its more than 50 years expertise for the benefit of its partners, in order to continue the construction process and achieve a third milestone in the Egyptian real-estate sector like Rehab and Madinaty.