Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, plans to invest $29.7 billion in a luxury coastal development on Egypt’s Mediterranean coast, a source with direct knowledge confirmed. The project will include golf courses, marinas, luxury neighborhoods, schools, universities, and government facilities.

Largest Qatari Investment in Egypt Since Diplomatic Ties Restored

The development will transform Alam Al-Roum, a 7-kilometer (4.4-mile) undeveloped stretch of coastline located 480 km northwest of Cairo, into a year-round tourism and residential hub. This marks the largest Qatari investment in Egypt since diplomatic relations were restored following the 2017–2021 economic rift between Doha and Cairo.

The agreement with Egypt’s New Urban Communities Authority includes a $3.5 billion land payment and $26.2 billion in in-kind investment to build the project, which will cover 1,985 hectares (4,900 acres). The development is expected to generate $1.8 billion annually, with 15% allocated to the authority after Qatari Diar recovers its investment.

Strategic Mediterranean Tourism and Investment Hub

This initiative is part of Qatar’s broader $7.5 billion investment pledge to Egypt this year and could help unlock around $2.5 billion from an $8 billion IMF support package, which had previously been delayed.

The project is also seen as a strategic counterpart to the UAE’s Ras El-Hekma development and aligns with Egypt’s goal of attracting Gulf capital to its North Coast to establish the region as a premier Mediterranean tourism and investment destination.

Qatari Diar’s Existing Egyptian Holdings

Qatari Diar already owns the St. Regis Cairo hotel, CityGate, and NEWGIZA, a residential development on the outskirts of Cairo. This latest investment further strengthens Qatar’s footprint in Egypt’s real estate and tourism sectors.