Egypt’s TMG Pioneers ‘Made in Egypt’ Elevators with AOI & Schindler
A silent ascent in Cairo’s Madinaty district signals a broader shift in Egypt’s industrial strategy. High above the manicured streets of the B8 area, newly installed elevators represent the first physical output of a partnership aiming to reduce the nation’s reliance on imports.
The initiative, led by Talaat Moustafa Group (TMG), Egypt’s largest listed real estate developer, involves the localization of elevator production through a collaboration with the Arab Organization for Industrialization (AOI) and Swiss engineering firm Schindler. Major General Mokhtar Abdellatif, Chairman of the AOI, inspected the first of these domestically produced elevators this week, marking a transition towards “Made in Egypt” manufacturing.
Historically, Egypt’s construction sector has been heavily dependent on imported machinery, placing strain on the country’s foreign currency reserves, particularly during times of economic instability. TMG’s strategy aims to mitigate this external pressure by internalizing the supply chain. The move is framed by TMG as “responsible investment,” designed not only to serve its own extensive portfolio of developments – including Madinaty, Celia, and Al Rehab – but also to strengthen the national economy and foster local industrial opportunities.
The technical core of the venture resides within the Kader Factory for Developed Industries, a subsidiary of the AOI. The resulting “Arab Swiss Elevator Company” is utilizing advanced manufacturing capabilities to meet international standards, according to Major General Abdellatif. He emphasized the AOI’s focus on progressively increasing the proportion of locally sourced components, viewing technology transfer as a key metric of success. The collaboration ensures adherence to Swiss specifications throughout the assembly and testing processes.
This partnership is particularly timely given the current surge in urban development across Egypt, creating a substantial domestic market for elevators. By capitalizing on this internal demand, the TMG-led initiative offers a model for private developers to collaborate with state entities and international technology leaders to overcome import challenges.
Beyond industrialization, TMG has also demonstrated a commitment to social stability with a recent substantial donation to the Egyptian Food Bank, described as the largest single contribution in two decades. This dual approach – combining industrial investment with social support – is central to TMG’s current corporate strategy, reflecting a belief that economic resilience requires both a robust industrial base and a secure social foundation.
The AOI has committed to a strict delivery schedule as the Arab Swiss Elevator Company scales up production, aiming to keep pace with Egypt’s rapid urban expansion. The long-term success of the venture will likely hinge on its ability to extend beyond TMG’s projects and penetrate the wider regional market. For now, the sight of elevators engineered in Switzerland but manufactured in Egypt serves as a tangible sign of a shifting economic landscape.