The new Sahel: How Egypt's North Coast is being rebuilt for a new economy
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Egypt's North Coast has transformed from a quiet family resort strip into a multibillion-dollar investment destination, with Gulf capital and mega-projects such as Ras El Hekma reshaping the Mediterranean coastline.
Egypt's North Coast, locally known as El Sahel, has transformed over the past decade from a strip of simple, family-oriented resort compounds into one of the country's most ambitious coastal development zones, according to a feature by Fast Company Middle East.
The shift has been led by government infrastructure spending, including multi-lane road networks, the expansion of Alamein International Airport and Borg El Arab Airport, and the launch of mega-projects such as New Alamein City in 2018 and high-end destinations including Marassi and Hacienda Bay.
Gulf developers and investors have entered the market in force, most notably the UAE's ADQ, which acquired development rights for Ras El Hekma in 2024 to build a master-planned city designed to attract international tourism to the Mediterranean.
Knight Frank's senior research manager for UAE and Egypt, Aliaa M. Elesaaki, said investor sentiment toward the North Coast has matured, with GCC capital moving from largely opportunistic residential investments toward strategic, long-term developments.
Since 2021, GCC governments alone have committed US$59.5 billion to Egypt, while the country's construction pipeline stands at US$120 billion in awarded projects, with a further US$565.5 billion in the pipeline, positioning Egypt as the third-largest construction market in the region after Saudi Arabia and the UAE.
Elesaaki noted that branded residences in Egypt trade at an average premium of around 73 percent compared with non-branded stock, above the global norm of 35 to 40 percent, while absolute entry prices remain more accessible than in many comparable coastal markets in the region.