Arab Finance: Qatari Diar has launched construction of the first phase of its Alam Al-Roum project on the North Coast in Matrouh governorate, according to a statement.

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.

Spanning 4 million square meters, the first phase will attract investments of around EGP 220 billion and is expected to create around 30,000 direct and indirect jobs. The entire development is projected to provide more than 250,000 jobs upon completion.

The project also provides significant opportunities for Egyptian and international contracting companies, supporting local supply chains, which will in turn boost the competitiveness of Egypt’s construction sector and maximize local added value.

Prime Minister Mostafa Madbouly attended the launch during a visit to Matrouh governorate, as he inspected and inaugurated several service and development projects.

Madbouly noted that the launch marked an important step in the development of Egypt’s northwestern coast, highlighting the government’s efforts to provide incentives to encourage local and foreign private-sector institutions to increase investments in the region.

For his part, Hamad bin Talal Al Thani, CEO of Qatari Diar, said Alam Al-Roum is one of the company’s largest integrated urban and tourism developments globally and its largest project in Egypt.

The development covers 20.58 million square meters along a 7.2-kilometer Mediterranean coastline. The coastal city integrates residential, tourism, commercial, cultural, recreational, educational, and healthcare facilities.

The first phase will feature a 2-kilometer beach and waterfront promenade, natural sea-connected lagoons suitable for swimming and yachting, and around 195,000 square meters of artificial swimmable lagoons. Open spaces will account for approximately 85% of the phase’s total area.

It will also include a central marina with 50 yacht berths, four hotels offering more than 1,000 rooms, sports facilities, retail outlets, and international restaurants.

With its strategic location linking North Africa, Europe, and the Middle East, Alam Al-Roum is expected to reinforce Egypt’s position as a Mediterranean tourism and investment hub. Its proximity to Ras El Hekma and Marsa Matrouh airports, access to the international coastal road, and planned connectivity to the high-speed electric rail network are expected to enhance its accessibility and investment appeal.