Qatari Diar to Invest $29.7 Billion in Luxury Coastal Project in Egypt

Cairo, Egypt: Qatari Diar, the real estate investment arm of Qatar’s sovereign wealth fund, is set to launch a major partnership with Egypt’s New Urban Communities Authority (NUCA) to develop a luxury mixed-use project along the Mediterranean coast, representing a total investment of USD 29.7 billion (EGP 1.45 trillion), according to a source cited by Reuters.

The landmark development will transform Alam Al-Roum, an undeveloped coastal stretch located 480 kilometres northeast of Cairo, into a year-round global destination. The vast project will feature luxury neighbourhoods, golf courses, marinas, schools, universities, and government facilities, positioning it as one of the most ambitious coastal developments in Egypt’s modern history.

Massive Investment Structure

Under the agreement, Qatari Diar will make a USD 3.5 billion payment for the land, while contributing USD 26.2 billion in in-kind investments to construct the project. The master plan covers approximately 1,985 hectares (4,900 acres) along a 7.2-kilometre beachfront in Egypt’s Matrouh Governorate.

The large-scale urban development marks Qatar’s first major real estate investment in Egypt since pledging to inject USD 7.5 billion into the Egyptian economy earlier this year. It underscores Doha’s growing confidence in Egypt’s long-term economic prospects despite ongoing fiscal challenges.

Boost for Egypt’s Economy

Egypt has been seeking to attract significant foreign direct investment from Gulf nations as part of its wider economic reform strategy, aimed at reducing foreign debt levels and addressing a budget deficit that continues to pressure the Egyptian pound.

The Alam Al-Roum project is projected to generate USD 1.8 billion in annual revenue, with 15% of profits allocated to the New Urban Communities Authority after project costs are recovered.

The announcement also buoyed investor sentiment, with Egypt’s sovereign bonds climbing up to 0.4 cents on the dollar following the news. The 2050 maturity bond rose to 94 cents, reflecting renewed market optimism.

Transforming Egypt’s Northern Coastline

Once completed, the development is expected to reshape Egypt’s northern coastline into a global destination for luxury tourism and investment, creating thousands of jobs and strengthening economic ties between Cairo and Doha.

By combining Qatari Diar’s expertise in large-scale luxury real estate with Egypt’s strategic vision for regional development, the Alam Al-Roum project aims to set a new benchmark for coastal living and integrated urban design across North Africa.