Egypt receives $3.5 mln from Qatar for Samla, Alam El Roum development project

Ahram Online , Tuesday 30 Dec 2025

Egypt has received $3.5 billion from Qatar as the first payment under a major investment agreement to develop the Samla and Alam El-Roum areas on the country’s northwest Mediterranean coast, the cabinet said on Tuesday.

File Photo: Alam El-Roum. Ahram.

The payment is part of a $29.7 billion deal signed in November 2025 between Egypt’s Ministry of Housing, acting through the New Urban Communities Authority (NUCA), and Qatar’s state-owned Qatari Diar Real Estate Investment Company (QD).

Cabinet spokesperson Mohamed El-Homsany said the $3.5 billion represents the cash portion of the agreement’s initial phase. A second component of the deal is expected to generate about $1.8 billion through the sale of residential units once they are completed and delivered.

Qatari Diar is expected to begin development of the first phase of the project in 2026, covering about 20 percent of the total Alam El-Roum site, according to the statement.

The agreement covers more than 20 million square metres of land in Matrouh governorate, where the two sides plan to build a large-scale mixed-use development. Under the contract, NUCA is entitled to 15 percent of the project’s net profits, including returns generated by the project company and its affiliated entities, after investment costs are fully recovered.

Plans for the site include residential neighbourhoods, tourism and entertainment facilities, artificial lakes, golf courses, an international marina, and two smaller internal marinas. Housing is expected to occupy about 60 percent of the land, while services will account for up to 15 percent. Roads, public spaces, and green areas will make up the remaining 25 percent. The project does not include any industrial facilities.

The investment comes as Egypt seeks to attract large foreign capital inflows amid pressure on public finances and foreign currency reserves. Gulf-funded real estate and infrastructure projects have become a key source of hard currency for Cairo over the past two years.

The Alam El-Roum deal also coincides with Egypt’s efforts to secure approval of the fifth and sixth reviews of its $8 billion Extended Fund Facility (EFF) programme with the International Monetary Fund (IMF), as well as the first review under the Resilience and Sustainability Facility (RSF). In recent statements, the IMF has pointed to improvements in Egypt’s balance of payments and said the Central Bank of Egypt (CBE) has maintained a tight monetary stance while moving cautiously toward easing as inflation slows.