Egypt receives $3.5B under Northwest coast development deal With Qatari Diar
Updated 12/30/2025 2:42:00 PM
Arab Finance: Egypt has received $3.5 billion as part of an investment agreement to develop a plot of land in the Samla and Alam El Roum area on the Northwest Coast, located in Matrouh Governorate, according to a statement.
The project is being developed through a partnership between the Ministry of Housing, Utilities, and Urban Communities, represented by the New Urban Communities Authority (NUCA), and Qatar-based real estate developer Diar.
The contract governing the development was signed on November 6th.
The sum represents the cash component of the agreement and constitutes its first installment.
A second installment will be provided in the form of in-kind consideration, consisting of residential units within the project’s built-up area, which are expected to generate about $1.8 billion in sales upon delivery.
Under the terms of the agreement, NUCA will also receive a 15% share of the project’s net profits.
This applies to the net profits of the project company and its affiliated and controlled entities, whether linked to Qatari Diar or the project company itself, after the full recovery of investment costs as outlined in the contract.
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