Cairo: In a landmark development that highlights the deepening economic ties between the Gulf and North Africa, Qatar’s sovereign real-estate company, Qatari Diar, has inked a massive investment deal with Egypt’s New Urban Communities Authority (NUCA). The agreement, valued at $29.7 billion, aims to transform nearly 4,900 acres of Egypt’s Mediterranean coastline into a mixed-use real-estate hub encompassing residential, commercial, and tourism infrastructure.

Under the deal, Egypt will receive $3.5 billion for the land acquisition, while Qatari Diar will invest approximately $26.2 billion directly into the construction, development, and infrastructure components of the project. Stretching over a 7.2-kilometer coastal strip, the development promises to redefine the region’s real-estate l

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