Qatar to launch massive Red Sea tourism project with St. Regis

Qatar's Qatari Diar to launch massive Red Sea tourism project with St. Regis, holding 29M square meters for development since 2006.

This comes as part of the company’s ambitious plans to expand within the Egyptian market.

Speaking on the sidelines of a press conference for a Qatari-Egyptian partnership to manage a hotel in the New Administrative Capital, Al Ansari noted that Qatari Diar currently holds approximately 29 million square meters (around 7,166 acres) of land and is actively negotiating with government bodies to finalize the launch of the new project.

However, he did not disclose any further details about the project or the expected value of the investment.

Qatari Diar, a subsidiary of the Qatar Investment Authority, originally acquired the 29 million square meters—located between Makadi Bay and Sokhna Bay—from the General Authority for Tourism Development in 2006 for a major tourism development that has yet to be executed.

The announcement comes just days after major partnership contracts were signed between the UAE’s Emaar and Saudi Arabia’s City Stars to establish a colossal tourism project in the Red Sea region spanning 10 million square meters.