Egypt Receives $3.5 Billion From Qatar for Mediterranean Tourism Project
Egypt has received $3.5 billion from Qatar to help develop a large luxury tourism and real estate project on its Mediterranean coast. This payment is part of a major investment agreement between the two countries.
According to a statement from the Egyptian cabinet, this amount is the first cash payment under a bigger $7.5 billion investment plan supported by Qatar. The project will be developed in the Samla and Alam Al-Roum areas on Egypt’s northwestern Mediterranean coast, located in Matrouh Governorate.
The project is being carried out through a partnership between Egypt’s Ministry of Housing, Utilities, and Urban Communities and Qatari Diar, a leading real estate company owned by Qatar. The goal of the project is to build luxury homes and modern tourism facilities that will strengthen Egypt’s coastal tourism sector.
The development will include high-end residential units, hotels, and tourism infrastructure. These features are expected to attract international tourists and investors and improve Egypt’s position in luxury tourism and real estate.
Mohamed Al-Homsani, the spokesperson for the Egyptian cabinet, said that the $3.5 billion payment is the cash portion of the agreement. A second phase of the deal will include completed residential units instead of cash. The sale of these units is expected to add about $1.8 billion in extra value to the project.
Under the agreement, Egypt’s New Urban Communities Authority will also receive 15% of the project’s net profits after all development and investment costs are recovered. This profit share includes earnings made by the main project company and its subsidiaries managed by Qatari Diar.
Al-Homsani explained that this deal follows instructions from Egyptian President Abdel Fattah El-Sisi and Qatari Emir Sheikh Tamim bin Hamad Al-Thani to deepen economic cooperation between Egypt and Qatar. He added that the partnership aims to strengthen relations between Cairo and Doha while supporting long-term and sustainable economic growth for both countries.
Background
Last month, Egypt and Qatar signed a much larger $29.7 billion real estate agreement focused on developing a major urban project along Egypt’s Mediterranean coast. Out of this total amount, $3.5 billion is a cash investment, while the remaining $26.2 billion will be provided by Qatari Diar as in-kind investment, such as construction work and infrastructure development.
The agreement was signed by Egypt’s Housing Minister Sherif El-Sherbiny and Qatar’s Minister of Municipality and Chairman of Qatari Diar, Abdullah Al Attiyah. It covers a massive area of 205.9 million square meters in the Samla and Alam Al-Roum region of Matrouh Governorate.
The project will include luxury housing, tourism and entertainment areas, artificial lakes, golf courses, an international marina, two local marinas, and full public services such as healthcare, education, utilities, and government facilities. It is expected to create more than 250,000 direct and indirect jobs, providing a major boost to Egypt’s economy.
Big Picture
Egypt plans to attract $42 billion in foreign direct investment during the 2025–2026 financial year, which ends in June. This Qatar-backed project is a key step toward achieving that goal.
Published: 31th December 2025
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