Egypt launches investment zone for Qatari Diar's Alam Al Roum project on the North Coast
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Egypt has launched an investment zone for Qatari Diar's Alam Al Roum development on the North Coast, as ministers pitch the zone as a vehicle for tourism, real estate and service investment.
Egypt has launched an investment zone for the Alam Al Roum project developed by Qatari Diar on the North Coast. The launch was attended by the Minister of Investment and Foreign Trade, Mohamed Farid, and the Minister of Housing, Utilities and Urban Communities, Randa El-Menshawy, alongside government officials and representatives of the Qatari developer.
Farid said investment zones are an effective mechanism for attracting local and foreign investment, simplifying procedures, accelerating project implementation and generating direct and indirect jobs for surrounding communities. He stressed the importance of digitising government services so that investors can track applications, licences and approvals electronically, and said his ministry would keep coordinating with the housing ministry to expand public and private investment zones as well as free zones.
The minister said the private sector accounted for about 65 per cent of total investment in Egypt during the third quarter of fiscal year 2025/2026, up from a previous range of 40 to 45 per cent, and employs more than 70 per cent of the country's workforce. He put foreign direct investment inflows at about $18 billion by the end of fiscal year 2025/2026 and said achieving growth of 5.5 to 6.5 per cent in the coming years would require raising the investment-to-GDP ratio to about 25 per cent.
El-Menshawy said urban development is no longer limited to building new cities and residential communities but has become an integrated process aimed at maximising the use of national resources and creating investment opportunities. She described the North Coast as one of Egypt's main axes for urban expansion, with scope for tourism, real estate and service activities and for new communities capable of attracting capital and creating jobs.
She said the government's approach to the northwestern coast seeks to redistribute investment and economic activity, establish new economic centres and strengthen integration between tourism, real estate and services. The state will coordinate with Qatari Diar and relevant authorities to establish the conditions needed for implementation, she added, and argued that major projects should be judged not only by the investment they attract but by their contribution to job creation, productive activity and sustainable urban communities.