US EditionQatari Diar's $29.7B Egyptian Coastal Investment: Transforming Alam Al-Roum into a Tourism Haven
The $29.7 billion project will transform 1,985 hectares of Egypt’s North Coast into a luxury tourism hub, generating $1.8 billion in annual revenue, officials said.
- Qatari Diar will invest $29.7 billion to develop the Alam Al‑Roum coastal project, with Prime Minister Mostafa Madbouly witnessing the signing on Thursday.
- Facing heavy debts, Egypt has pushed to secure Gulf investments, with the deal part of Doha's $7.5 billion pledge this year that could unlock $2.5 billion in IMF disbursements.
- Under the agreement with Egypt's New Urban Communities Authority, the deal includes a $3.5 billion land payment and a $26.2 billion in-kind investment to build neighbourhoods, golf courses, marinas, schools, universities and government facilities.
- Immediate effects include projected revenues and a bond market uptick as Egypt's sovereign bonds flipped to gains of up to 0.4 cents, reflecting market reaction.
- Seen as the largest Qatari investment since ties were restored, the deal would be the biggest since the 2017‑2021 rift and positions Egypt's North Coast as a Mediterranean tourism hub.
11 Articles
11 Articles
Egypt and Qatar agree on a $29.7 billion real estate project – a massive investment partnership. A source said that Qatari Diar, the real estate arm of Qatar's sovereign wealth fund, will sign an agreement with Egypt's New Urban Communities Authority to develop a real estate project on the Mediterranean coast with investments reaching $29.7 billion.
Qatari Diar to Invest $29.7 Billion in Egyptian Mediterranean Megaproject
Qatari Diar, the real estate division of Doha’s sovereign wealth fund, plans to invest $29.7 billion in a luxury development along Egypt’s Mediterranean coast. This project aims to develop a 7-km stretch of coastline called Alam Al-Roum, located 480 km northwest of Cairo, into a year-round tourist destination featuring golf courses, marinas, luxury neighborhoods, schools, […] The post Qatari Diar to Invest $29.7 Billion in Egyptian Mediterranean…
Qatari Diar to invest $29.7 billion in project on Egypt’s Mediterranean coast
Qatari Diar, the real estate arm of Doha's sovereign wealth fund, will invest $29.7 billion in a luxury development including golf courses and marinas on Egypt's Mediterranean coast, a source with direct knowledge said on Wednesday. The development aims to turn Alam Al-Roum, an undeveloped 7-km (4.4 mile) stretch of coastline 480 km northwest of Cairo, into a year-round destination that will attract tourists and will also have luxury neighbourho…
Qatari Diar's $29.7B Egyptian Coastal Investment: Transforming Alam Al-Roum into a Tourism Haven
Qatari Diar's $29.7B Egyptian Coastal Investment: Transforming Alam Al-Roum into a Tourism Haven Qatari Diar, the real estate branch of Doha's sovereign wealth fund, is set to invest a massive $29.7 billion in a lavish development project on Egypt's Mediterranean shore. The extravagant plan features golf courses, marinas, and aims to transform Alam Al-Roum into a premier year-round destination.The venture marks the largest Qatari investment in E…
Egypt, Qatar sign deal to develop Alam Al-Roum area on Mediterranean coast
Prime Minister Mostafa Madbouli on Thursday witnessed the signing of a partnership deal between Egypt and Qatar to develop Alam Al-Roum area of Matrouh governorate on Egypt’s Mediterranean coast. The agreement was inked by Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, and the Egyptian Ministry of Housing, Utilities and Urban Communities, represented by the New Urban Communities Authority. The project is located in Alam Al-Ro…
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