Cairo: Prime Minister Mostafa Madbouly said on Thursday, 6 November 2025, that the signing of a major development partnership with Qatar crowns the two countries' deep-rooted fraternal relations and historic ties. Madbouli noted that the agreement reflects the strong bonds between President Abdel Fattah El Sisi and Emir of Qatar Tamim bin Hamad Al Thani, and their shared commitment to deepening economic cooperation, strengthening investment relations, and supporting sustainable development that meets the aspirations of both peoples.
According to State Information Service Egypt, the premier made the remarks during the ceremony marking the signing of the partnership agreement to develop the Alam Al-Roum areas of Matrouh Governorate on Egypt's Mediterranean coast. Madbouli explained that the agreement is a practical outcome of previous understandings between the two leaders to enhance economic partnership and launch a new package of direct Qatari investments in Egypt.
He said the agreement follows the same mechanism used by the state, represented by the New Urban Communities Authority (NUCA), with private developers, whereby land is allocated to the investor (the Qatari company) in exchange for a 'cash payment,' a 'land-for-equity' share, and a percentage of project profits allocated to NUCA. "The financial structure includes a cash payment of $3.5 billion to be transferred by the investor before the end of the year, and an in-kind component valued at $1.8 billion in residential units, in addition to NUCA's 15% share of net project profits after the full recovery of investment costs," Madbouli said.
He added that residential areas will comprise about 60% of the total project area, with up to 15% for service facilities, and around 25% for roads, squares, and open green spaces. The project land will include no industrial component and will be handed over free of encumbrances in two main phases and several sub-phases. Madbouli reiterated that the Egyptian government continues to take decisive steps to attract and facilitate more foreign direct investment, noting that such major projects contribute to comprehensive development by creating new urban communities, generating employment opportunities for young Egyptians, and supporting national economic growth while ensuring solid returns for investors.