“Will you sit and watch us?”... Sisi jokes with Hassan Allam after requesting 100 billion pounds from Hisham Talaat Mostafa

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The “Urban and Urban Development” session, within the activities of the Egypt 2026 Forum, witnessed a remarkable dialogue between Egyptian President Abdel Fattah El-Sisi and businessmen Hisham Talaat Mostafa and Hassan Allam, regarding enhancing private sector investments and linking major projects to their role in serving society.

During the session, President Sisi Hassan Allam, CEO of Hassan Allam Holding Company, joked, saying: “Are you going to sit and watch us like this?”, in the context of his call on investors to pump more investments, especially in the industrial and logistical fields, in conjunction with the announcement of an agreement between the state and Talaat Moustafa Group to implement four major projects with targeted investments amounting to 11 trillion pounds (201 billion US dollars).

Al-Sisi said yesterday evening, Tuesday, that he congratulated those in charge of projects with this volume of investments, but at the same time he stressed that the state is looking forward to additional investments from the private sector, pointing to the importance of expanding industrial and logistical activities, especially in the Abu Qir region.

President Hassan Allam's joke came in the context of his talk about the role of investors in supporting development plans, as he called for not being limited to existing projects, and working to increase investments in various sectors, in a way that enhances economic activity and supports job opportunities.

Hassan Allam spoke during the session about the development of the workforce in his company, explaining that the number of employees increased from about 3,000 employees to nearly 50,000 directly, in addition to about 100,000 indirectly, with the expansion of the company’s work in national and other projects.

Allam also rejected the portrayal of the construction sector as only beneficiary of state projects, pointing to the role of companies in implementing projects and providing job opportunities, and said: “Whoever complains a lot will remain aware of his disappointment.”

Hassan Allam's joke was preceded by President Sisi's discussion with businessman Hisham Talaat Mostafa regarding social responsibility for major investment projects, following the announcement of an agreement to develop, establish and operate four mixed-use projects with targeted investments amounting to about 11 trillion pounds.

The president directed his speech to Hisham Talaat Mostafa, demanding that a community contribution be allocated to provide housing units for rent, saying: “There is something called community service. You don’t do projects with this number and then you don’t do community service. Where is the community service?”

Al-Sisi added that he wants to provide between 100,000 and 200,000 housing units for rent as part of this contribution, indicating the state’s readiness to participate in the implementation of the project. The businessman joked, saying: “I did not come to you in any way.”

Hisham Talaat Mostafa responded: “You are being ordered, regret,” explaining that the group is already contributing to community initiatives and projects, including “A Decent Life” and the “Long Live Egypt” Fund.

But the president stressed that the required contribution is separate from these initiatives, saying: “No, no, this is a need and this is a need,” then he added: “If I took 1% from you, I would take 100 billion from you,” referring to the size of the investment projects being talked about.

Hisham Talaat Mostafa stressed that participation in this file is a duty for the private sector towards society, while the President stressed the importance of major projects including a societal aspect that directly reflects the needs of citizens, especially in the housing file.

The forum witnessed the announcement of an agreement between the state and Talaat Mustafa Group to develop, construct and operate four major multi-use projects, including the “North Madinaty” project, an integrated urban project in Alexandria, and a project in the Abu Qir area that brings together industrial, logistical and real estate activities, in addition to a new coastal destination on the North Coast similar to “South Med”.

The announced projects reflect the state’s orientation towards expanding partnership with the private sector in the areas of urban development, industry, logistics services and tourism, in parallel with the call to enhance investors’ contribution to community initiatives, linking investment expansion with meeting the needs of citizens.