Qatar and Egypt have officially signed a groundbreaking agreement to develop a luxury real estate and tourism project in Alam Al-Roum, representing a significant economic partnership between the two nations. The massive development, valued at $29.7 billion, will be led by Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund.
The project will transform a 7.2-kilometer stretch of undeveloped coastline in Egypt’s Matrouh Governorate, covering approximately 1,985 hectares. Key features include:
- Luxury housing neighborhoods
- Marinas and golf courses
- Educational institutions
- Public infrastructure and government facilities
Under the agreement with Egypt’s New Urban Communities Authority (NUCA), Qatari Diar will pay $3.5 billion for the land in December 2025, with an additional $26.2 billion committed to construction and development. Egypt will receive 15 percent of the project’s annual revenues, which are expected to reach at least $1.8 billion.
This investment aligns with Egypt’s strategy to attract substantial foreign capital from Gulf countries and supports economic reform and urban expansion policies. The development is expected to stimulate local job creation, enhance tourism potential, and contribute to Egypt’s economic diversification.
Egypt’s Prime Minister Mostafa Madbouly emphasized that such investments help diversify foreign capital sources and create new housing and tourism opportunities. For Qatar, the project represents a strategic economic diversification into a promising Mediterranean tourism hub.
The deal is part of a broader $7.5 billion investment pledge by Qatar to bolster Egypt’s economy, reflecting growing bilateral ties and mutual economic interests.
