According to Fakhry Elfeki, Chairman of the Planning and Budget Committee in the Egyptian Parliament, Egypt and Qatar are close to finalizing a $4 billion investment deal. This arrangement will see $4 billion of Qatar’s existing deposits in the Egyptian central bank converted into an investment focused on the Ras Alam El-Rum region along the northwestern Red Sea coast.
The official clarified that the deal will be structured as a usufruct agreement (granting the right to use the land) and will not involve a land sale. The project, reportedly funded by the Qatar Investment Authority (QIA), is slated to cover approximately 240,000 square meters and include luxury houses, resorts, shopping malls, and a yacht marina.
This proposed deal aligns with Egypt’s aggressive strategy to attract Foreign Direct Investment (FDI), targeting $42 billion during the current 2025-2026 fiscal year to stimulate its economy and address debt concerns. This push for investment follows recent reports, including one that Egypt’s Prime Minister discussed activating a separate $7.5 billion partnership package with his Qatari counterpart.
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