Qatar’s $30 billion investment set to transform remote Egyptian coastline

CAIRO, August 11: Qatar is moving ahead with a major development project on Egypt’s northwestern Mediterranean coast, with total investment expected to reach nearly $30 billion.

According to Business Insider Africa, the project, known as Alam El-Roum, is being developed by Qatari Diar, the real estate development arm of Qatar’s sovereign wealth fund. The first phase of the project is expected to cost around $4.5 billion.

The development aims to transform a remote and largely undeveloped stretch of Egypt’s Mediterranean coastline into a major year-round tourism and residential destination.

Located around 480 kilometres from Cairo, the project will feature luxury residential units, hotels, golf courses, marinas, sports facilities, educational institutions, retail outlets and other urban infrastructure.

Around 85% of the development area is expected to remain dedicated to open spaces, while artificial lakes covering approximately 195,000 square metres will be created for swimming, boating and other recreational activities. A marina capable of accommodating around 50 boats is also planned.

The development will include four hotels with more than 1,000 rooms, along with sports facilities, retail outlets and international restaurants.

Qatari Diar CEO Sheikh Hamad bin Talal Al Thani said the first phase of the project is expected to generate around 30,000 direct and indirect jobs. He described Alam El-Roum as more than a tourism resort, saying it is being designed as an integrated, world-class urban destination capable of operating throughout the year.

Qatar’s total investment in the project is estimated at around $29.5 billion to $29.7 billion. This includes approximately $3.5 billion for the land and more than $26 billion for development and construction.

The project represents a major expansion of economic cooperation between Qatar and Egypt. The investment comes as Cairo seeks to attract large-scale foreign capital to strengthen its economy and address financial pressures.

Qatar and Egypt have also been expanding cooperation in the energy sector, including agreements involving liquefied natural gas supplies, gas exploration, processing and energy infrastructure.

The Alam El-Roum project is expected to become one of the largest foreign-backed developments on Egypt’s Mediterranean coast and could significantly reshape the region’s tourism, real estate and economic landscape.