Egypt Luxury Tourism Project Secures $3.5B Qatari Funding

Egypt has been allocated $3.5 billion in Qatari funding as the first cash tranche of a broader investment agreement to develop the Egypt Luxury Tourism Project along the country’s Mediterranean coast.

According to an official cabinet statement, the funds were released as part of Qatar’s $7.5 billion pledge to develop the Samla and Alam Al-Roum areas in Matrouh Governorate.

The project has been structured as an investment partnership between Egypt’s Ministry of Housing, Utilities, and Urban Communities and Qatari Diar.

Key Points:

• The $3.5 billion received was confirmed as the initial cash component of the agreement.
• An additional $1.8 billion in value was projected to be generated through the allocation and sale of residential units in a later phase.
• A 15% share of net profits was assigned to Egypt’s New Urban Communities Authority following full recovery of project costs.
• The Egypt Luxury Tourism Project was designed to include high-end residential and tourism infrastructure.
• The agreement was reported to have been concluded under directives aimed at strengthening economic cooperation between Egypt and Qatar.

The Egypt Luxury Tourism Project is part of Egypt’s broader strategy to expand coastal luxury tourism and attract foreign direct investment.