Egypt's cabinet approves investment zone for Qatari Diar's $29.7bn Alam Al Roum project
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Egypt's Cabinet has approved a draft decision establishing an investment zone for Qatari Diar's Alam Al Roum project, a mixed-use development covering about 4,900 feddans on the North Coast, with total targeted investments of $29.7 billion.
Egypt's Cabinet, chaired by Prime Minister Mostafa Madbouly, has approved a draft decision to establish an investment zone for Qatari Diar Real Estate Development Company's Alam Al Roum project, covering an area of approximately 4,900 feddans along the Alexandria-Matrouh coastal road in Matrouh Governorate.
The investment zone will host an integrated mixed-use development featuring residential, tourism, commercial, administrative and service activities, supporting Qatari Diar's plans to develop one of the largest projects on Egypt's North Coast. The decision is described as a key regulatory step in advancing the scheme and strengthening real estate and tourism investment along the coast, in line with government efforts to expand investment opportunities, develop coastal areas and maximise the economic value of available land assets.
In August, Qatari Diar began implementing the first phase of the Alam Al Roum project in the presence of Prime Minister Madbouly, as part of a development with total targeted investments of $29.7 billion. The project includes $3.5 billion in direct cash investments, while the first phase is estimated at EGP 220 billion in investments, with the company planning to begin delivering components from 2030.
The first phase spans 4 million square metres with a total built-up area of 1.4 million square metres. It includes four hotels with more than 1,000 rooms, a yacht marina, natural and artificial swimmable lagoons, sports facilities, restaurants, retail outlets and open spaces accounting for around 85 percent of the phase's total area. The phase is expected to create around 30,000 direct and indirect job opportunities, while the full project is projected to generate more than 250,000 jobs on completion.
The Alam Al Roum development covers a total area of 20.58 million square metres and will include 3,500 hotel rooms, an international marina with capacity for 370 yachts, a golf course, as well as a network of lagoons, beaches and waterways. Qatari Diar said the project aims to create an integrated coastal city combining residential, tourism, commercial, cultural, entertainment, educational and healthcare uses, based on sustainability principles and modern urban planning standards.