Qatar and Egypt have announced one of the region’s largest real estate and tourism partnerships, with Qatari Diar Real Estate Investment Company signing an agreement with Egypt’s New Urban Communities Authority (NUCA) to develop a $29.7bn integrated urban and tourism project on the North Coast of Matrouh Governorate.
The Alam El Roum development will cover around 4,900 acres and stretch along 7.2km of Mediterranean beachfront.
It aims to transform the area into a comprehensive tourism and investment destination featuring residential, commercial, and hospitality zones built to the highest international standards.
Qatar and Egypt strategic partnership
The project will feature residential neighbourhoods, luxury resorts, tourism and entertainment facilities, open artificial lakes, golf courses, and three marinas — one international and two local.
Infrastructure will include electricity distribution, water desalination and treatment plants, schools, universities, hospitals, and a service free zone.
According to Qatari Diar, the venture will become one of the largest development projects in the Mediterranean region, creating an estimated 250,000 direct and indirect jobs while boosting investment inflows and economic growth.
Deal terms and land allocation
The agreement includes a cash price of $3.5bn and an in-kind consideration of 396,000 square metres of built-up area, the sale of which is expected to generate at least $1.8bn in revenues.
Once Qatari Diar recovers its full investment costs, 15 per cent of project profits will be allocated to NUCA, covering returns from Qatari Diar and its subsidiaries.
Land allocation across the project is divided as follows:
- Residential areas: approximately 60 per cent of total land
- Service zones: 15 per cent
- Roads, squares, and green spaces: 25 per cent
The land will be delivered free of encumbrances in two main phases and several sub-phases.
High-level statements of support
Dr Mostafa Madbouly, Prime Minister of Egypt, said the partnership reflects “the depth of the fraternal relations between Egypt and Qatar” and strengthens economic cooperation between the two nations.
He added that it “embodies the vision of both leaderships for integrated economic cooperation that supports sustainable development and attracts high-quality investments to the Egyptian market.”
Abdullah bin Hamad bin Abdullah Al Attiyah, Minister of Municipality and Chairman of Qatari Diar, said the project is a strategic step that enhances the status of Egypt’s North Coast as a global destination and demonstrates Qatar’s commitment to supporting Egypt’s sustainable development and year-round coastal operations.
He confirmed that the $29.7bn development will provide more than 250,000 job opportunities, reflecting Qatari Diar’s confidence in Egypt’s economy and its belief in the country’s strategic location as an investment hub.
Luxury tourism in Egypt
Eng. Ali Mohammed Al Ali, CEO of Qatari Diar, said Alam El Roum represents “a new step in developing luxury destinations in Egypt,” part of a wider strategy to create high-value tourism investments.
He said the project will be implemented by a special-purpose company wholly owned by Qatari Diar, in coordination with NUCA, to ensure designs meet the highest international standards.
The development will span more than 20 million square metres and include over 4,500 hotel rooms, setting new benchmarks for Mediterranean tourism.
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