Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, has started work on the first phase of a massive tourism and luxury development along Egypt's northwestern Mediterranean coast, which may eventually draw about $30 billion in investment.
The initial phase of the Alam El-Roum development is expected to cost around EGP220 billion ($4.5 billion), with a total value of roughly $29.5 billion.
In late 2025, Qatari Diar, the sovereign wealth fund's property development arm, contributed $3.5 billion to the Egyptian government.
A month later, it was reported that the company would invest $29.7 billion in a landmark coastal development on Egypt’s Mediterranean shore, marking one of the largest foreign real estate ventures in the country’s history.
The agreement, negotiated with Egypt's New Urban Communities Authority (NUCA), reflects increased Gulf confidence in Cairo's economy at a time when the government is desperately seeking external finance to confront soaring debt and a major budget gap.
