Qatari state-owned real estate giant Qatari Diar has announced plans to invest $29.7 billion in a large-scale development project along Egypt’s Mediterranean coast, marking one of the most significant foreign investments in the country’s property and tourism sectors in recent years.
The project, which will span several thousand hectares, is expected to feature luxury residential complexes, hotels, marinas, and commercial centers, with construction set to begin in 2026. According to Bloomberg, the investment aligns with Egypt’s broader economic diversification strategy aimed at attracting Gulf capital and boosting tourism revenues.
Egypt’s Minister of Housing, Assem El Gazzar, confirmed that the government has finalized preliminary agreements with Qatari Diar, noting that the project will generate tens of thousands of jobs and strengthen bilateral economic ties. “This partnership underscores Egypt’s position as a regional hub for investment and real estate innovation,” he said.
As reported by the Financial Times, Qatari Diar’s commitment comes amid growing Qatari interest in Egypt’s infrastructure and tourism markets, following renewed diplomatic and economic cooperation between both nations. The development is expected to reshape the Mediterranean coastline into a high-end global destination while contributing significantly to Egypt’s GDP growth targets for the coming decade.
