Arab Finance: Prime Minister Mostafa Madbouly has approved a decree establishing an investment zone for Qatari Diar’s Alam Al-Roum project on Egypt’s North Coast in Matrouh governorate, according to a statement.
Spanning 4,900 feddans along the Alexandria-Matrouh coastal road, the zone will be developed as an integrated, mixed-use destination featuring residential, tourism, commercial, administrative, and service activities.
The decree marks a significant step toward advancing the Alam Al-Roum project and supporting increased real estate and tourism investment on the North Coast. It also aligns with the government’s strategy to accelerate coastal development, attract investment, and maximize the economic value of state-owned land and assets.
In August, Qatari Diar launched construction of the first phase, which is expected to attract investments of around EGP 220 billion and create 30,000 direct and indirect jobs.
The development scheme is part of a $29.7 billion master plan, including around $3.5 billion in direct cash investments, with the first phase to be delivered in 2030.
