Qatari Diar's $29.7B Egyptian Coastal Investment: Transforming Alam Al-Roum into a Tourism Haven

Qatari Diar, the real estate branch of Doha's sovereign wealth fund, is set to invest a massive $29.7 billion in a lavish development project on Egypt's Mediterranean shore. The extravagant plan features golf courses, marinas, and aims to transform Alam Al-Roum into a premier year-round destination.

The venture marks the largest Qatari investment in Egypt since relations between the two nations were mended following a diplomatic rift that lasted from 2017 to 2021. Lasting impacts of this investment will not only bolster tourism but also address critical economic issues stemming from significant foreign debts and a budget deficit.

The ambitious development will span a colossal 1,985 hectares and is aimed at generating $1.8 billion in annual revenues. It's part of a larger $7.5 billion Qatari investment pledge, strategically positioning Egypt's North Coast as a competitive Mediterranean tourism hub.