CAIRO — Egypt’s Cabinet has approved a draft prime-ministerial decree establishing an investment zone for Qatari Diar’s $29.7bn Alam Al Roum development on the Mediterranean coast, providing a dedicated administrative and licensing framework for the already-launched project.
The zone covers about 4,900 feddans, equivalent to 20.6mn sq m, along the Alexandria–Matrouh coastal road and is designated for residential, tourism, commercial, administrative and service activities.
The 16 September decision does not constitute a new investment agreement or land allocation. Qatari Diar, the real-estate arm of the Qatar Investment Authority, signed the development partnership with Egypt’s New Urban Communities Authority in November 2025, while construction of the first phase was launched in August 2026.
The project carries a planned total investment of $29.7bn, including a $3.5bn cash component. The agreement also provides for an in-kind component comprising 396,000 sq m of built-up area, expected to generate at least $1.8bn, while NUCA is entitled to a 15% share after recovery of investment costs.
Under Egypt’s Investment Law, investment zones operate through a dedicated administrative structure empowered to approve projects and issue operating licences, centralising procedures for developments within their boundaries. The regime is distinct from Egypt’s free-zone system and does not by itself provide the same blanket tax and customs treatment.
Construction of Alam Al Roum’s 4mn-sq-m first phase, carrying planned investment of up to EGP220bn, began in August. It includes residential, hospitality, retail and marina components, with Qatari Diar targeting initial deliveries from 2030. The wider master plan includes more than 3,500 hotel rooms and a 7.2-km Mediterranean waterfront.
The regulatory move advances one of Egypt’s largest Gulf-backed coastal developments from investment agreement into implementation, as Cairo seeks to use major Mediterranean land projects to attract foreign capital, expand year-round tourism capacity and establish permanent urban centres along the Northwest Coast, alongside developments including Ras El Hekma.
Related news:
Marriott Strengthens Egypt Presence Amid Rising Tourism Demand
From Resort to City: Can Egypt Build Year-Round Tourism Economies?
Read also:
North Coast Growth Is Turning the Alexandria–Matrouh Road Into an Urban Spine
The Match That Shook Football: Egypt, Argentina and the Crisis of Trust in FIFA
