This cooperation marks a new stage in the partnership between the two nations on economic development, tourism, and infrastructure.
Egypt’s Prime Minister, Mostafa Madbouly, has confirmed a new collaborative real estate project with Qatar on the North Coast of Egypt, a move expected to strengthen economic ties between the two nations.
This announcement came after a key meeting in Cairo between Madbouly and Qatar’s Prime Minister, Sheikh Mohammed bin Abdulrahman Al Thani, where both leaders underscored their commitment to enhancing bilateral economic cooperation.
The planned real estate venture is part of a broader strategy to improve trade, investment, and collaboration between Egypt and Qatar.
Although specifics regarding the project’s scope remain sparse, the focus is on leveraging Egypt’s North Coast as a prime location for tourism and real estate development, with its pristine beaches and growing infrastructure offering substantial potential for both domestic and international investors.
During the meeting, Madbouly expressed optimism about the growing partnership, highlighting the importance of boosting trade exchanges.
“We are keen to increase trade and explore new areas of investment that benefit both nations,” he remarked.
The Egyptian Prime Minister also acknowledged the role of Qatari construction companies, which have demonstrated their expertise in major global projects, particularly during Qatar’s hosting of the 2022 FIFA World Cup.
This experience positions Qatari firms as valuable partners in Egypt’s expanding real estate market, which continues to attract significant attention.
Qatari Minister of Municipality, Abdullah bin Hamad Al Attiya, also emphasized the importance of the North Coast project, stating that consultations with the Egyptian team would begin soon to move the plans forward.
As Egypt’s North Coast continues to gain popularity as an investment destination, the region has already seen significant partnerships, including the $21 billion SouthMED City project with Talaat Moustafa Group, and the Ras El-Hekma city development with Emirati investors.
Beyond real estate, discussions between the two leaders also covered a wide range of investment opportunities, including in the manufacturing and tourism sectors.
Madbouly expressed Egypt’s openness to expanding collaboration, particularly in the fields of ports and logistics, as well as infrastructure projects like data centres in New Alamein City.
“We are ready to move forward on these opportunities as soon as possible,” Madbouly stated, referring to potential joint ventures in the tourism and hospitality sectors in Greater Cairo and the New Administrative Capital.
Qatar’s Prime Minister reiterated his country’s strong interest in furthering investment ties with Egypt, particularly in manufacturing, where Egypt’s diverse industrial landscape offers promising prospects.
“We are committed to working closely with Egypt to unlock these opportunities and strengthen trade relations,” Al Thani said.
He also emphasized Qatar’s focus on doubling trade exchanges and tasked relevant government agencies to set actionable goals to achieve these aims.
Both sides also discussed the ongoing success of the Egyptian-Qatari Investment Forum, which held its inaugural session in November 2023.
This forum aims to facilitate regular dialogues and foster deeper investment collaborations between the two countries.
