Qatar and Egypt have announced one of the Middle East’s largest real estate and tourism partnerships, as Qatari Diar Real Estate Investment Company signed an agreement with Egypt’s New Urban Communities Authority (NUCA) to develop Alam El Roum, a $29.7 billion integrated urban and tourism project on Egypt’s North Coast in Matrouh Governorate.
The massive development will span 4,900 acres along 7.2 kilometres of Mediterranean coastline, transforming the area into a luxury destination that combines residential, commercial, and hospitality zones, all designed to international standards.
A Strategic Partnership for Growth
Alam El Roum is set to feature residential neighbourhoods, high-end resorts, marinas, artificial lakes, golf courses, and entertainment facilities, supported by full-scale infrastructure including electricity, water desalination, schools, universities, hospitals, and a service-free zone.
According to Qatari Diar, the project is expected to generate approximately 250,000 direct and indirect jobs, thereby strengthening investment inflows and supporting Egypt’s broader economic growth objectives under Vision 2030.
Dr. Mostafa Madbouly, Egypt’s Prime Minister, said the agreement reflects “the depth of fraternal relations between Egypt and Qatar” and advances “a shared vision for integrated economic cooperation that supports sustainable development.”
Abdullah bin Hamad bin Abdullah Al Attiyah, Qatar’s Minister of Municipality and Chairman of Qatari Diar, added that the project “enhances the North Coast’s status as a global tourism destination” while reaffirming Qatar’s commitment to Egypt’s sustainable growth.
Development Details and Investment Terms
The deal includes a $3.5 billion cash component and 396,000 square meters of in-kind built-up area, expected to yield $1.8 billion in revenues. Once investment costs are recovered, 15% of profits will be allocated to NUCA from Qatari Diar and its subsidiaries.
Land distribution across the project is planned as follows:
- Residential zones: 60%
- Service and commercial areas: 15%
- Roads, green spaces, and public squares: 25%
Delivery will occur in two main phases and several sub-stages, ensuring the project progresses in sync with infrastructure development.
Elevating Egypt’s Luxury Tourism Sector
Eng. Ali Mohammed Al Ali, CEO of Qatari Diar, described Alam El Roum as “a new step in developing luxury destinations in Egypt,” aligning with the company’s broader strategy to create high-value tourism and real estate investments.
Spanning over 20 million square meters, the project will include more than 4,500 hotel rooms, setting new standards for Mediterranean tourism and hospitality. Implemented by a special-purpose company wholly owned by Qatari Diar, the development will maintain strict adherence to global design and sustainability benchmarks.
