$29B Egypt, Qatar partnership set to reshape Egypt’s mediterranean shore

The New Urban Communities Authority (NUCA) is close to finalizing a strategic partnership with Qatari Diar Real Estate Investment Company to develop a large-scale integrated urban project in the Alam El-Rum area on Egypt’s Mediterranean coast, according to informed sources.

The project is structured as a revenue-sharing development with an estimated total value of $29 billion. Under the agreement, Qatari Diar will acquire land in Alam El-Rum for approximately $3.5 billion, while NUCA will receive its returns through a combination of cash payments and in-kind assets.

NUCA’s share will include 35 percent of the project’s total revenues, in addition to an in-kind contribution valued at around $26.2 billion, representing the cost of constructing and developing the project’s components. The Ministry of Housing, through NUCA, will also complete the necessary infrastructure and utilities before the site is officially handed to the developer.

The development is expected to be implemented over a five-year timeline following the issuance of ministerial approvals. The Ministry will also streamline land delivery, licensing, and permitting processes to ensure timely execution.