The Cabinet approved on Thursday the establishment of a private investment zone named The Spine within the Madinaty project in New Cairo, granting Orion Urban Development a license to develop and operate the project.
The decision follows the approval granted by the General Authority for Investment and Free Zones (GAFI) in April to establish Egypt's first private investment zone for the project.
Spanning approximately 506 feddans, The Spine will feature residential, commercial, administrative, hospitality, entertainment, tourism, and healthcare components, alongside complementary activities, with total planned investments estimated at LE1.4 trillion.
During the project's launch in April, Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding, said the development is expected to contribute the equivalent of 1% of Egypt's GDP while generating an estimated LE818 billion in tax revenues for the state budget over its lifecycle.
He described The Spine as more than a real estate project, calling it an integrated economic destination designed to position Egypt as a regional hub for international companies and global investment.
The project is expected to attract tens of millions of visitors annually, supporting commercial, tourism, and service activities while strengthening Egypt's position as a regional business and investment destination.
According to TMG, The Spine will comprise 165 residential, administrative, and hotel towers, developed as a Cognitive City powered by artificial intelligence and smart management systems.
The project aims to integrate residential communities with business, retail, hospitality, entertainment, and innovation in a single smart urban destination.
