Qatari Diar Invests USD 29.7 Billion in Marsa Matrouh Coastal Project

Egypt’s New Urban Communities Authority (NUCA) has signed an agreement with Qatari Diar, the real estate investment arm of Qatar’s sovereign wealth fund, to develop the Alam El-Roum area on Egypt’s Mediterranean coast. The total investment value is estimated at USD 29.7 billion, making it one of the largest real estate and tourism ventures in the country to date. The project covers approximately 4,901 feddans (around 20.6 million square meters) in the Samala and Alam El-Roum area of Marsa Matrouh. It will feature large-scale coastal developments including hotels, resorts, and mixed-use facilities, with a total capacity exceeding 4,500 hotel rooms. The agreement includes a USD 3.5 billion land payment and an in-kind contribution valued at USD 26.2 billion to fund construction and development. Once operational, the project is expected to generate at least USD 1.8 billion in annual revenues, with NUCA receiving 15% of profits. The development is projected to create around 250,000 job opportunities and contribute significantly to Egypt’s coastal urban expansion strategy. The agreement was signed in the presence of Prime Minister Mostafa Madbouly today, November 6th, at the New Capital.