Qatari Firm Announces $29.7 Billion Coastal Development Project in Egypt
Qatari Diar, a real estate company owned by Qatar’s sovereign wealth fund, announced a $29.7 billion investment in a tourism and residential development project on Egypt’s northern coast.
The project will be located in the Alam al-Roum area in Egypt’s Matrouh Governorate. According to the company, the development will cover approximately 4,900 acres and extend along 7.2 kilometers of Mediterranean coastline.
The plans include residential units, tourism facilities, a marina, and golf courses.
The investment follows earlier announcements in April that Qatar planned to invest $7.5 billion in Egypt.
Egyptian Prime Minister Mostafa Madbouly and Qatari officials confirmed the project as part of ongoing economic cooperation between the two countries.
