Qatari Diar Boosts Egypt’s Real Estate with $29.7B Deal

The Qatari Diar and NUCA enter into an agreement to develop the North Coast in Egypt into a luxurious real estate destination valued at a 29.7B deal.

The Qatari Diar Real Estate Investment Company of Qatar and the New Urban Communities Authority (NUCA) of Egypt have concluded a groundbreaking real estate development project worth 29.7 billion to construct a world-class tourist and residential destination on the North Coast of Egypt.

The project will include the development of the Alam El Roum area into a luxury resort city on about 4,900 acres over a 7.2 km Mediterranean strip in Matrouh Governorate. Golf courses, marinas, five-star hotels, and complete infrastructure (including hospitals, schools, and universities) will be developed, establishing a new standard in the real estate and hospitality business.

It is one of the most significant Gulf-supported real estate investments in the Mediterranean, and individuals can recognize this ambitious initiative. It will enhance tourism within Egypt, draw international investors and improve its image as the much sought-after luxury destination.

The addition of high-end amenities and sustainable design to the North Coast project will help increase the economy of Egypt through the opportunity to generate employment, increase tourism capacity, and provide ways of living in the modern style, matching comfort and coastal sophistication.

The Qatari Diar and NUCA joint venture is a giant step towards the real estate market of Egypt, a new era of Mediterranean luxury and connectivity to the world.