Egypt showcases to Qatari investors tourism opportunities along Nile, North Coast

CAIRO – 8 December 2024: Prime Minister Mostafa Madbouly showcased available investment tourism opportunities in the North Coast as well as inside Cairo, including those located directly on the Nile as he met with a group of Qatari businessmen in Doha on Sunday.

The prime minister also highlighted investment opportunities in the New Administrative Capital and other cities, emphasizing that businessmen willing to invest in these projects will obtain the nation’s golden license, which facilitates project implementation, a statement by the Cabinet read.

Madbouly stated that Egyptian-Qatari bilateral relations are in their best conditions, expecting the coming period to witness more cooperation and coordination in various fields.

"We in Egypt are working to stimulate foreign investments and facilitate procedures, within the framework of integrated efforts to create an attractive investment climate."

 

North Coast investments

Late in November, Madbouly stated that Egypt and Qatar will collaborate on a significant real estate investment project in the country's North Coast during a meeting with Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani in Cairo.

Qatar’s Minister of Municipality Abdullah bin Hamad Al Attiya said during the meeting that the anticipated project will be of significant importance.

Further details about the specific nature and scale of the project are yet to be disclosed. However, the collaboration between the two countries is seen as a strategic move to capitalize on the growing potential of Egypt's North Coast as a prime destination for tourism and real estate development.

Egypt and Qatar have moved quickly in bolstering their relations, including political, economic and investment ties, after ending a more than three-year-long diplomatic rift in 2021.

In 2022, Egypt and Qatar agreed on a package of $5 billion in investments and partnerships in Egypt within “the framework of boosting economic cooperation.”

Egypt's North Coast has emerged as a sought-after location for real estate investments, boasting pristine beaches, upscale resorts, and expanding infrastructure.

In February, Egypt and the United Arab Emirates signed a $35 billion landmark deal to develop Ras El Hekma on the Mediterranean coast.

This ambitious project, anticipated to be the most significant in Egypt's history, is projected to attract investments exceeding $150 billion from Emirati sources.

Moreover, in July, Egypt collaborated with Talaat Moustafa Group (TMG) to initiate a $21 billion project named SouthMED City in the North Coast.

PRIME MINISTERS MEET

Sheikh Mohammed bin Abdulrahman Al-Thani said that his country is keen on increasing mutual investments between Egypt and Qatar as he met with Madbouly today on the sidelines of the 22nd edition of Doha Forum.

Madbouly stressed Cairo’s commitment to bolstering cooperation with Doha in various fields, especially with regard to Qatari investments in several sectors across Egypt.

The Egyptian prime minister underlined consensus between the political leaderships in both Egypt and Qatar on expanding the frameworks of cooperation between the two countries.

Madbouly said he is keen on leveraging communication between the two sides to realize the various proposals that they discussed during the coming period.

He affirmed the existence of many promising investment opportunities for cooperation between Egypt and Qatar.