Cairo: Prime Minister Mostafa Madbouli witnessed the signing of a significant partnership deal between Egypt and Qatar to develop the Alam Al-Roum area in the Matrouh governorate on Egypt's Mediterranean coast. The agreement was formalized by Qatari Diar, the real estate arm of Qatar's sovereign wealth fund, and the Egyptian Ministry of Housing, Utilities and Urban Communities, represented by the New Urban Communities Authority.

According to State Information Service Egypt, the project is strategically located in the Alam Al-Roum area of Matrouh governorate, approximately 480 kilometers northwest of Cairo. It spans an area of about 1,985 hectares, equivalent to around 4,900 feddans, and features a waterfront stretching approximately 7.2 kilometers. The project is set to encompass the construction of upscale residential neighborhoods, golf courses, yacht marinas, and various educational, governmental, and service facilities, transforming it into a year-round residential and tourism destination.

The development aligns with Egypt's broader strategy to transform its North Coast cities from seasonal resorts into fully integrated urban communities. This agreement is a part of a larger Qatari-Egyptian partnership package valued at USD 7.5 billion, intended to foster direct investments in real estate, tourism, and infrastructure sectors between the two nations.