Flags of Qatar fly near the National Museum of Qatar in Doha, photographed on December 3, 2024. Jakub Porzycki/NurPhoto via Getty Images
Al Ansari made the statement during a press conference in Cairo regarding a Qatari-Egyptian partnership to manage a hotel in Egypt’s New Administrative Capital.
He said Qatari Diar, a subsidiary of the Qatar Investment Authority, currently holds around 29 million square meters of land between Makadi Bay and Sokhna Bay acquired in 2006 from Egypt’s General Authority for Tourism Development.
Al Ansari explained that the new Red Sea tourism project forms part of Qatar’s expanding investment in Egypt’s hospitality and real estate sectors.
He noted that negotiations with Egyptian government bodies are ongoing, but did not disclose specific financial figures for the investment.
Qatari Diar Red Sea tourism investment
The land allocated for the Red Sea project has long been earmarked for large-scale tourism development that was delayed for years.
The new partnership with St Regis signals renewed momentum, aligning with regional ambitions to develop the Red Sea into a world-class destination.
According to Egypt Independent, the project marks one of the largest foreign-led tourism initiatives in the region in recent years.
Regional tourism development competition
Qatar’s announcement follows recent major Red Sea agreements involving UAE’s Emaar and Saudi Arabia’s City Stars, which signed contracts for a project covering 10 million square meters valued at more than US$18.5 billion.
That project is expected to create up to 150,000 jobs, according to statements from the companies involved.
Egyptian Prime Minister Mostafa Madbouly said last week that the Red Sea region is entering a transformative period set to attract sustained international tourism.
Qatari Diar North Coast project
Alongside the Red Sea plan, Al Ansari confirmed that Qatari Diar’s North Coast project is progressing and will be inaugurated before the end of 2025.
Reports indicate the North Coast development covers 60,000 feddans in Alam al-Roumi east of Matrouh with an investment approaching US$3.5 billion.
The North Coast venture is expected to mirror large-scale urban tourism projects seen in Ras al-Hekma.
Strengthening Egyptian-Qatari economic ties
Al Ansari emphasized that these tourism investments form part of a direct package valued at US$7.5 billion agreed during the Egyptian-Qatari Higher Committee meeting in New Alamein earlier this year.
He said the package reflects the economic cooperation framework between the two countries’ leadership.
Qatari Diar currently owns approximately 40 million square meters of land in Egypt, including its flagship CityGate project in New Cairo covering 8.5 million square meters.
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The Red Sea tourism project will add to this portfolio, reinforcing Qatar’s long-term strategy of positioning itself as a key player in Egypt’s real estate and hospitality sectors, according the local source.
