Qatari Diar to launch $29.7B project on Egypt’s Mediterranean coast
Updated 11/5/2025 1:30:00 PM
Arab Finance: Qatari Diar signed an agreement with Egypt's New Urban Communities Authority (NUCA) to establish a project on the Mediterranean coast, with total investments of $29.7 billion, sources told Reuters.
The real estate arm of Doha's sovereign wealth fund will develop the project on an area of 1,985 hectares (4,900 acres) along a 7.2-kilometer stretch of coastline.
It will turn Alam Al-Roum, an undeveloped stretch of coastline 480 kilometres northeast of Cairo, into a key destination that will attract international visitors.
This development scheme will feature luxury neighborhoods, golf courses, marinas, schools, universities, and government facilities.
Meanwhile, the development is expected to generate annual revenue of at least $1.8 billion, 15% of which will be allocated to the authority after the company recovers its total investment cost.
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