Qatari Al-Diyar launches the first phase of 'Al-Rom' in Egypt with investments of 220 billion pounds - Sarmad
Qatar’s Al Diar, the real estate arm of the Qatar Investment Authority, launched the first phase of its project in the “Alam Al Rum” city on Egypt’s northwestern coast on Sunday, with investments expected to reach 220 billion Egyptian pounds. Deliveries at the project are scheduled to begin in 2030, according to Hamad bin Talal Al Thani, the company’s chief executive officer, in an interview with Bloomberg Middle East.
Al Diar Qatar signed a partnership agreement in November 2025 with the New Urban Communities Authority to develop the “Alam Al Rum” project, with total investments amounting to $29.7 billion. The development is part of a 15-year plan to create an integrated residential and tourist community.
The company took possession of the land for the first phase last March and was working on finalizing the master plan and final designs. The first phase will include residential, tourist, and hotel units, alongside commercial and recreational projects, with investments nearing $1 billion, according to two sources familiar with the matter who spoke to Bloomberg Middle East on condition of anonymity.
Al Diar Qatar had targeted starting actual construction and launching the first phase for sale in the last quarter of 2026, alongside marketing the project domestically and internationally, particularly in Gulf markets. This indicates an acceleration of the timeline, with the company now launching it in the third quarter of this year.
Gulf Investment Momentum on the Northern Coast
“Alam Al Rum” is located east of Mersa Matruh on the Mediterranean coast. Its development is part of a growing wave of Gulf investments in Egypt’s northern coast, which gained significant investment momentum following the $35 billion development deal for Ras El Hekma between Egypt and the UAE.
“Alam Al Rum” is approximately 50 kilometers from Ras El Hekma. The northwestern coast stretches from El Alamein to Salloum over a distance of nearly 500 kilometers, encompassing several of Egypt’s most prominent tourist and real estate development zones.
Hamad bin Talal, CEO of Al Diar Qatar, previously stated that residential components account for about 60% of the project’s area, along with recreational areas and global hotels with a capacity of approximately 4,500 rooms.
Al Diar Qatar’s Investments in Egypt
Al Diar Qatar’s investments in Egypt are not limited to “Alam Al Rum.” The company holds a land portfolio of approximately 64 million square meters, of which about 8 million square meters have been developed. It aims to increase developed areas to 18 million square meters within three years.
Qatari investments come at a time when the northern coast is witnessing increasing inflows of Gulf capital, driven by major real estate and tourism projects and the government’s expansion of land offerings to investors.
Egypt is betting on continued growth in foreign direct investment to support its foreign currency reserves. The government expects net foreign direct investment to grow by more than 10% to approximately $13.42 billion in the fiscal year ending in June, compared to $12.2 billion in the 2024–2025 fiscal year, according to statements by Minister of Investment and Foreign Trade Mohamed Fared.
