Wednesday, 27 May 2026
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Qatar to invest $4 billion in Egyptian North Coast tourism project
Qatar has agreed to purchase 5,000 acres in the "Alam Al-Rum" area on Egypt’s North Coast for approximately $4 billion to develop an integrated tourism project, according to an Egyptian government official who spoke to Al-Sharq on condition of anonymity.
The official stated that the Egyptian government will receive a share of the project’s revenues in exchange for providing utilities and infrastructure, with an official announcement expected in October.
Located east of Marsa Matrouh, "Alam Al-Rum" is named after an ancient Roman fortress in the area. It is a popular destination for fishing enthusiasts and family tourism due to its tranquil beaches and natural beauty. The site is approximately 50 kilometers from Ras El-Hekma, which attracted $35 billion in Emirati investments in October 2024.
Bloomberg previously reported in May that Qatar was in talks to invest $3.5 billion in a tourism project on Egypt’s Mediterranean coast.
The project will be developed by Qatari Diar, a company owned by the Qatar Investment Authority, according to the official. Qatari Diar did not respond to Al-Sharq’s requests for comment.
Initial negotiations between Egypt and Qatar involved developing a 60,000-acre integrated tourism city under a usufruct system for the Qatar Sovereign Wealth Fund, but the agreement was finalized for the purchase of 5,000 acres.
This project aligns with Egypt’s efforts to attract foreign investments to bridge its budget financing gap, reduce external debt, and enhance the private sector’s role, in line with its economic reform program agreed upon with the International Monetary Fund.
Egypt aims to attract $42 billion in foreign direct investment during the 2025-2026 fiscal year, which began in July.