According to the Egyptian cabinet, Madbouly made these remarks during a meeting in Cairo with his Qatari counterpart, Sheikh Mohammed bin Abdulrahman Al Thani, and senior officials from both sides.

During the meeting, Qatari Minister of Municipality Abdullah bin Hamad Al Attiya said the upcoming North Coast project is of significant importance and affirmed that consultations with the Egyptian team responsible for the project will be held.

Egypt's North Coast has become a prime destination for real estate investment due to its pristine beaches, luxurious resorts, and growing infrastructure.

Egypt partnered with Talaat Moustafa Group (TMG) in July to build a new $21 billion mega project, SouthMED City, in the North Coast.

Moreover, in February, Egypt signed a historic deal with Emirati investors to build the multi-billion new city of Ras El-Hekma as a massive urban, business, and tourism centre in the country's North Coast.

Emirati investments in this project, the largest of its kind in Egypt’s history, are expected to reach a minimum of $150 billion.

Qatar construction excellence
 

During the meeting, Madbouly noted that Qatari construction and development companies have demonstrated exceptional expertise, mainly through their projects when Qatar hosted the FIFA World Cup 2022.

"This experience positions them as valuable partners for Egypt’s growing real estate sector," Madbouly said, adding that partnership opportunities include projects in the North Coast, other areas, or even joint ventures with Egyptian construction firms active in Africa.

Meanwhile, the Qatari PM highlighted his country's proven track record in real estate development within Egypt.

Trade and manufacturing cooperation
 

Both sides reaffirmed their mutual commitment to enhancing trade exchange rates.

The Egyptian PM assured that Cairo would work closely with Qatari entities to achieve these goals, leveraging both countries' significant potential.

He further affirmed the Qatari side's strong interest in collaborating with Egypt in the manufacturing sector, highlighting Egypt's diverse investment opportunities in industry.

The talks also explored ways to establish partnerships enabling the export of products to African markets — where Egypt serves as a key gateway — and countries with free trade agreements with Egypt.

For his part, the Qatari PM affirmed that ongoing collaborations with Egyptian industrial investors yield positive results. "We look forward to strengthening our cooperation in this vital sector for our countries," he said. 

Additionally, he highlighted the importance of doubling trade exchange rates between the two nations, revealing that he had tasked Qatari government agencies with setting actionable goals to achieve tangible results.

Tourism and hospitality prospects
 

During the meeting, the Qatari delegation showed interest in investing in Egypt's tourism and hospitality sector, particularly in the North Coast area.

Madbouly welcomed this enthusiasm for his part, noting that Qatari investors would soon be presented with additional opportunities in Greater Cairo and the New Administrative Capital (NAC).

He noted that these options include prospects for acquisitions or partnerships with Egyptian private sector firms. "We are ready to move forward on this file as soon as possible," Madbouly stated.

Infrastructure and logistics investments
 

The talks also touched on potential investment collaborations in ports and logistics zones, where Qatar expressed interest in establishing data centres in Egypt.

In this regard, Madbouly outlined significant projects in this sector, particularly in New Alamein City and Greater Cairo, where energy resources required to power such facilities are already available.  

He further underscored Egypt's commitment to maintaining the regularity of the Egyptian-Qatari Investment Forum, whose inaugural session was held in Cairo in November 2023.

Meanwhile, the Qatari PM expressed his country’s genuine desire to expand investment cooperation with Egypt in various sectors, highlighting the shared benefits such partnerships would bring.

Earlier Wednesday, President Abdel-Fattah El-Sisi received the Qatari PM, and they discussed various issues of mutual interest.

In recent years, Egypt and Qatar have boosted their relations on all levels and exchanged high-level visits.

According to official data, 160 Qatari companies are injecting investments in Egypt worth nearly $2 billion.