Egyptian firm to develop real estate project in Iraq
7 May 2025
Egyptian real estate developer Talaat Moustafa Group Holding (TMG) is negotiating with Iraq’s National Investment Commission (NIC) to develop a mixed-use real estate project in Iraq.
In an official statement, TMG said that the project will cover an area of about 14 million square metres (sq m) and be located in the southwest of Baghdad.
The project is expected to contain about 45,000 residential units.
“Subject to the successful conclusion of negotiations, TMG expects to receive the land from Iraqi authorities by the end of this year,” the statement added.
The developer said the expansion will be handled through TMG’s Saudi Arabian arm, TMG Saudi.
TMG Saudi is currently developing the Banan residential project in Riyadh in collaboration with Saudi Arabia’s National Housing Company.
The project contains about 27,750 residential units, spanning an area of about 10 million sq m.
TMG has enjoyed a strong financial performance recently. In its 2024 financial reports, the group logged consolidated net profits after tax worth £E10.7bn ($211m), marking an annual increase of over 223% from the £E3.3bn reported in 2023.
The group also announced that last year its real estate revenues rose to £E24.5bn from £E21.57bn in 2023, while its earnings per share increased to £E4.68 from £E1.46.
GlobalData estimates that the Iraqi construction industry will register an annual average growth rate of 4.9% during 2025-28, supported by investments in energy, water infrastructure and housing projects, coupled with the government’s plan to increase renewable energy production to 12GW by 2030.
In its 2024 fiscal budget, the government allocated $162bn to capital expenditures, an increase of 6% compared to the previous fiscal year budget. Of the total, $30.8bn was allocated to the energy sector, $25.6bn to security and defence, and $13.3bn to the education sector.
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Kuwait tenders oil manifold project24 June 2026
State-owned upstream operator Kuwait Oil Company (KOC) has tendered a contract to construct remote header manifolds and associated works in the southern and eastern regions of Kuwait.
A meeting with prospective contractors has been scheduled for 21 July 2026, and bids are due to be submitted ahead of a deadline on 20 September 2026.
Manifolds are devices used in the oil sector to divide the flow of liquids from a single source to several outlets, or to collect liquids, or vice versa.
Previously, a project with a similar scope in the same region was awarded to the Kuwaiti contractor Al-Ghanim International General Trading & Contracting.
In 2016, it signed a contract worth $435m to construct remote header manifolds and associated works in the south and east Kuwait areas.
The scope of that contract included design, procurement, construction and commissioning of 25 remote manifold stations and associated pipelines in south and east Kuwait using multi-phase pumps to deliver liquids to gathering centres.
Kuwait’s oil fields are connected to more than 25 gathering centres, which serve as collection points for crude oil produced by several wells connected by flowlines, providing initial treatment by separating associated gas and removing salt.
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Contractors win deals for Saudi Energy transmission projects23 June 2026

Saudi Arabia-based Haif Company has won contracts for two separate substation projects in Saudi Arabia, according to sources.
The first involves the construction of a 132/33/13.8kV substation for Saudi Energy, formerly Saudi Electricity Company, which will replace the existing Tabuk substation 2 in Tabuk, northwestern Saudi Arabia.
The works include the construction of a new substation, along with GIS, transformers, switchgear, capacitor banks, MV/LV cable systems and protection infrastructure.
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Consortium wins $1bn Saudi healthcare PPP project23 June 2026
Saudi Arabia’s Ministry of Health and the National Centre for Privatisation & PPP (NCP) have awarded a public-private partnership (PPP) contract for the operation and management of the Sabic Specialised Behavioural Healthcare Hospital in Riyadh.
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The contract term is 15 years.
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Morocco approves Khalladi wind farm expansion23 June 2026
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