Qatari Diar announces $30 billion resort project in Egypt — Interia
Qatari company Qatari Diar announced in 2025 a $30 billion project to transform Alam el-Rum on Egypt’s northern coast into a year-round luxury resort. The company is owned by Qatar’s state asset fund. Interia reports on the large-scale investments by Gulf states in Egypt’s Mediterranean coast.
Investments on the coast
In 2024, Abu Dhabi paid $35 billion for the rights to develop 40,600 acres of land in Ras el-Hekma. This was the largest foreign investment in Egypt’s history. Developer Modon Holding plans to build tourist facilities, a marina, an airport, investment zones and free trade zones there, as well as 310,000 apartments and houses. Under the plan, the new city is to accommodate up to 2 million people.
Another major project, SouthMED, worth $21 billion, is being implemented by Egypt’s Talaat Moustafa Group in partnership with the state. It was presented in 2024. Construction and property sales in Ras el-Hekma, Alam el-Rum and SouthMED have already begun.
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Betting on year-round tourism
Developers expect to transform the region, which until now has mainly hosted wealthy Egyptians during the short summer season, into an international destination for tourists and property buyers. Egyptian authorities are also investing in roads, airports and the construction of New El Alamein, a city designed for permanent residence.
An example of such development is Emaar’s Marassi resort: it has 6.5 km of coastline, 8,000 houses and apartments, and 12 luxury hotels. At the peak of the summer season, accommodation there can cost more than $1,000 per night. According to Emaar founder and managing director Mohamed Alabbar, at the end of August, foreigners accounted for 65% of guests at Marassi hotels, with almost all of them coming from Gulf states.
At the same time, Travco Holidays head Moataz Sedky believes that Egypt’s northern coast is still at a stage of transformation rather than being a fully established international resort market. To attract guests outside the beach season, the region needs additional hotels, regular year-round air connections, restaurants, conference centers and sports facilities, in his assessment.
