Bloomberg reported that a Qatari state-owned real estate company will invest $3.5 billion in Egypt, marking the latest Gulf support for the North African economy. Qatari Diar, a unit of the sovereign wealth fund, plans to announce the investment in a project on Egypt’s Mediterranean coastline. The focus will be on developing tourism sites, real estate projects, and golf courses to attract regional and international visitors. Qatari Diar has also committed to an in-kind investment of about $26 billion in the Alam Al-Roum area of Egypt’s northern coastline.
Qatar to invest $3.5 billion in Egypt’s Mediterranean resort project
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