CAIRO — Qatari Diar has taken possession of a 29 million-square-metre site in Hurghada nearly two decades after first securing the land, clearing a key hurdle towards launching the first phase of a large integrated tourism development before the end of 2026.
The site, located along the Hurghada-Safaga road and covering about 7,000 feddans, was handed over following a final land-allocation agreement with the Egyptian government earlier this year. The transfer starts the project’s 20-year development period, according to people familiar with the matter cited by Asharq Bloomberg.
The sources said Qatari Diar has received proposals from Egyptian and Gulf developers interested in participating in parts of the scheme. The company has yet to disclose the project’s total investment, final master plan, hotel capacity, residential component or development partners.
Red Sea Investment Push
The project advances as Egypt seeks to expand tourism capacity following successive increases in visitor numbers and foreign-currency receipts.
Egypt received nearly 19 million tourists in 2025, around 21% more than the previous year, while tourism revenues reached approximately $8 billion in the first half of 2026. The government is targeting 30 million annual visitors by 2030, increasing pressure for additional hotel rooms, tourism infrastructure and integrated destinations.
Hurghada already anchors one of Egypt’s principal international tourism corridors, supported by established resort capacity and direct air links to major European and regional markets. A development of Qatari Diar’s planned scale would therefore add substantial new land supply to an already mature Red Sea tourism market.
Qatari Diar Builds Two-Coast Portfolio
The Hurghada project also broadens Qatari Diar’s exposure across Egypt’s two principal coastal investment markets.
On the Mediterranean, the company is developing Alam Al Roum on the North Coast, a 20.58 million-square-metre integrated development with an announced investment value of $29.7 billion. Its first phase was launched in August 2026, with initial handovers planned from 2030.
Qatari Diar CEO Sheikh Hamad bin Talal Al-Thani has positioned Alam Al Roum as a year-round integrated city rather than a seasonal resort, combining residential, tourism and commercial development.
Hurghada presents a different investment proposition. While the final development mix remains undisclosed, the Red Sea market is more directly tied to international leisure tourism and hospitality demand, giving the project potential exposure to foreign-currency-generating tourism activity alongside any residential component.
The land handover therefore represents more than an administrative milestone. Launching the first phase before year-end would convert a land agreement dating back almost two decades into an active Red Sea development while giving Qatari Diar substantial exposure to both of Egypt’s principal coastal investment markets.
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