Egypt has signed a significant investment partnership with Qatar’s sovereign wealth fund arm, Qatari Diar Real Estate Investment Company. The deal will see the development of an integrated urban tourism project on the Mediterranean coast in the Alam El Roum area. The total investment is estimated at more than USD 29.7 billion. The project spans 4,900 acres and 7.2 kilometers of coastline, and aims to transform the area into a world-class destination. It will include high-end residential complexes, luxury resorts with over 4,500 hotel rooms, and a new marina. The agreement includes an initial cash payment of USD 3.5 billion to Egypt. Prime Minister Dr Mostafa Madbouly emphasised that the deal reflects the strong fraternal relations and investment cooperation between Egypt and Qatar.
Arada has awarded a AED397 million contract to Modern Building Contracting Company for the construction of Rove Aljada, a mixed-use hospitality and residential complex within the Aljada megaproject. The four-building development, located near Arada CBD and Madar Mall, is set for completion by the end of 2027 and will feature 192 hotel rooms and 306 branded residences.
Arada has awarded a AED2.18 billion contract to UNEC for the construction of Madar Mall, a landmark retail and leisure hub at the heart of Aljada in Sharjah, with completion due in 2028.
Egypt has signed an $18 billion agreement with Emaar Misr and City Stars to develop Marassi Red Sea, a major coastal project in the Red Sea governorate scheduled for completion within four years.
CIDCO has fast-tracked plans for a 667-acre Aerocity near Navi Mumbai International Airport, which is set to open in September. The development will integrate residential, commercial and retail hubs with wider infrastructure projects to transform the Mumbai Metropolitan Region.
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