Egypt, Qatari Diar sign $29.7B development agreement for Alam Al-Roum project
Updated 11/6/2025 1:49:00 PM
Arab Finance: Prime Minister Mostafa Madbouly witnessed the signing agreement between Qatari Diar and the New Urban Communities Authority (NUCA) for the Alam Al-Roum project in Matrouh, according to a statement.
The integrated project, valued at $29.7 billion, is one of the biggest development schemes in the Arab world, Madbouly said, adding that $3.5 billion will be paid at the end of December.
The partnership between Egypt and Qatar includes the implementation of tourism and development projects aimed at improving infrastructure efficiency and increasing investment attractiveness in the region.
This agreement aligns with the state’s objectives to secure new investment opportunities with regional partners, maximize economic returns, and create new job opportunities.
On November 5th, Reuters reported that Qatari Diar, the real estate arm of Doha's sovereign wealth fund, would develop the project on an area of 1,985 hectares (4,900 acres) along a 7.2-kilometer stretch of coastline.
The development is expected to generate annual revenue of at least $1.8 billion, 15% of which will be allocated to NUCA after the company recovers its total investment cost.
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