Qatar Diar has started construction of the first phase of its Alam El Roum development on Egypt’s North Coast, with the project expected to attract $29.7 billion in total investments, including $3.5 billion in direct cash investments, according to a Cabinet statement.
The project is being developed in partnership with the Egyptian government and is located on Egypt’s North Coast in Matrouh Governorate. Prime Minister Mostafa Madbouly attended the launch during a visit to the governorate.
The first phase will cover approximately 4 million square meters and involve investments estimated at EGP 220 billion ($4.4 billion). It will include a two-kilometer beachfront promenade, natural lagoons connected to the Mediterranean Sea, swimmable artificial lagoons covering 195,000 square meters, a marina accommodating 50 yachts, four hotels with more than 1,000 rooms, sports facilities, retail outlets and restaurants. Public spaces will account for roughly 85% of the development area.
The first phase is expected to generate approximately 30,000 direct and indirect jobs, while the project as a whole is projected to create more than 250,000 jobs upon completion. Deliveries for the first phase are scheduled to begin in 2030.
A 20.58M-square-meter development
The Alam El Roum master plan spans 20.58 million square meters and includes residential, hospitality, commercial, educational, healthcare, cultural and entertainment components, according to the Cabinet statement.
The wider development will feature a 7.2-kilometer waterfront promenade, 22 kilometers of sea-connected lagoons, 850,000 square meters of swimmable artificial lakes, international and local marinas with capacity for nearly 500 yachts, an 18-hole golf course and more than 3,500 hotel rooms.
For Qatar Diar, the project adds to its existing presence in Egypt. The company has been investing in the Egyptian market for more than two decades and currently holds investments worth approximately $7 billion, according to the Cabinet statement.
Backed by the Qatar Investment Authority, Qatar Diar’s global portfolio includes 42 projects in more than 20 countries, with total investments exceeding $35 billion.
GCC capital in Egypt
Alam El Roum is part of a broader wave of Gulf-backed real estate and tourism investment in Egypt.
The Ras El Hekma project, developed through a partnership between Egypt and Abu Dhabi-based ADQ, includes $24 billion in direct investment, making it the largest foreign direct investment deal in Egypt’s history.
Meanwhile, Marassi Red Sea, announced by Emaar Misr in partnership with Saudi Arabia’s Citystars Group, is expected to attract approximately EGP 900 billion, equivalent to around $18.5 billion, in investment. The development includes hospitality, residential, commercial, marina and tourism components along Egypt’s Red Sea coast.
Together, Alam El Roum ($29.7 billion), Ras El Hekma ($24 billion) and Marassi Red Sea ($18.5 billion) represent more than $72 billion in announced investments across major tourism and real estate developments in Egypt.
