In a significant economic partnership, Qatar and Egypt have formalized an ambitious real estate development project that promises to transform Egypt’s Mediterranean coastline. The deal, signed on Thursday, involves Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, investing in a 7.2-kilometer stretch of undeveloped coastal land in Alam Al-Roum, approximately 480 kilometers northwest of Cairo.
Key project details include:
- Total investment: $29.7 billion
- Land area: 1,985 hectares (4,900 acres)
- Initial land payment: $3.5 billion (to be paid in December)
- Remaining investment: $26.2 billion for construction and development
The comprehensive development will feature luxury housing neighborhoods, marinas, golf courses, educational institutions, and public infrastructure. Egypt will receive 15% of the project’s annual revenues, which are projected to reach at least $1.8 billion.
Egypt’s Prime Minister Mostafa Madbouly highlighted the project’s significance in diversifying foreign capital sources and creating new housing and tourism opportunities. The investment aligns with Egypt’s economic reform strategies and follows Qatar’s earlier $7.5 billion investment pledge in 2025.
For Qatar, this project represents strategic economic diversification and an opportunity to develop a prestigious Mediterranean destination. The development is expected to stimulate local job creation and fuel broader economic growth through increased tourism and real estate market activity.
The project exemplifies the growing bilateral ties between Qatar and Egypt, demonstrating confidence in Egypt’s economic potential despite current challenges such as foreign debt and budget deficits.
