Qatari Project Resurges in Egypt
The Qatari Diar Company announced its plan to launch a large tourism project covering nearly 29 million square meters on the Red Sea coast in Egypt, after a 20-year halt. The project involves developing an integrated tourism and residential area between Makadi and Soma Bay, with the goal of launching the first phase prior to the end of 2026. The land originally dates back to 2006, when the company acquired it with the aim of establishing a tourism and hotel project, but implementation was halted for years. This project comes within Egypt’s broader efforts to promote year-round tourism in the Red Sea region, involving an investment of approximately 7,000 acres with a sea frontage of up to 6 kilometers. This is in line with the "Elm Rumm" project on the North Coast, which is investing around $29.7 billion.
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