Egypt's North Coast readies for fresh flow of billions of dollars in Qatari investments

Qatar is reportedly in advanced talks with Egypt to invest $3.5 billion in the implementation of a major tourist project along Egypt's North Coast.

If they proceed, the talks are likely to culminate in a deal later this year, according to media reports.

They are part of the larger context of strengthening relations between Egypt and the Gulf state.

In March 2022, Qatar announced a $5 billion investment in Egypt. In April of this year, it announced that it would invest an additional $7.5 billion in the fellow Arab country.

Whether the expected $3.5 billion investment will be part of this package of investments is yet known.

There is also little information about the exact location of the expected project and whether the Egyptian government will acquire a stake in it in any form.

These investment pledges will compound billions of dollars in Qatari investments in Egypt, which are spread across a wide range of Egyptian economic sectors, including real estate, hospitality, petroleum, and health.

Qatari Diar has been operating in the Egyptian market for several years, having launched some of the country's most significant real estate projects.

The group's projects align with Egypt's plans to expand its real estate market and transform it into an opportunity-rich environment for local, Arab and international investors.