Talaat Moustafa Group to Build Its First Mega Project in Iraq
Backed by a Saudi partnership, TMG's first project in Iraq is a mixed-use development on the outskirts of Baghdad.
May 26, 2025
Talaat Moustafa Group Holding (TMG) is entering the Iraqi market with plans to build a 14 million square metre mixed-use development southwest of Baghdad. The new city will include around 46,000 residential units, designed around the group's community model with smart infrastructure and integrated public services.
The project is being launched through TMG's Saudi subsidiary, a joint venture with the AlMuhaidib Group, one of the region's most active investment firms with stakes in companies like ACWA Power and Riyadh Cables Group.
Expected to generate USD 17 billion in total sales and USD 1.5 billion in recurring annual income once completed, the city will follow TMG's self-financing model. With Iraq experiencing renewed investment interest and facing a shortage of high-quality housing, TMG's entry is both a strategic expansion and a response to a growing market gap in urban development.
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