Qatari Diar announced the launch of the first phase of its huge project, Alam Al-Rum, on the North Coast, in a step that establishes one of the most ambitious urban and tourist destinations on the Mediterranean. This launch comes within the framework of a total investment amounting to 29.7 billion US dollars throughout the entire project, including 3.5 billion dollars in direct cash investments, with the first phase being delivered during the year 2030.
It is expected that the implementation of the first phase will contribute to providing thousands of direct and indirect job opportunities, among the more than 250,000 job opportunities that the entire project aims to provide upon completion, in addition to opening broad horizons for Egyptian and international contracting companies to participate in the implementation work, thus enhancing the competitiveness of the local sector and consolidating Qatari Diar’s commitment to maximizing the local added value of the project.
This launch came on the sidelines of the visit of the Egyptian Prime Minister, Dr. Mostafa Madbouly, to the project, accompanied by a number of ministers and officials, including Engineer Randa El Minshawy, Minister of Housing, Utilities and Urban Communities, as part of his tour to follow up on a number of development and investment projects and their implementation rates in the North Coast region. Upon his arrival at the project site, he was received by Sheikh Hamad bin Talal Al Thani, CEO of Qatari Diar, and the company’s leaders, who reviewed the plan to launch the first phase. And its timetable in preparation for the start of implementation work.
During the tour, the Egyptian Prime Minister and the accompanying delegation were briefed on the general plan of the project, which is one of the largest integrated urban and tourism projects developed by Qatari Diar globally, and the largest in Egypt, with a total area of 20.58 million square metres. It overlooks the Mediterranean Sea with a 7.2-kilometre-long sea promenade, and includes an integrated coastal city that combines residential, tourism, commercial, cultural, entertainment, educational and health uses, according to a modern urban vision that aims to create a sustainable society for future generations.
Although it is the first step on the path to achieving this vision, the first phase of the project carries in its essence the strength and potential of a comprehensive stand-alone project, as it extends over an area of 4 million square meters, with a total building area of 1.4 million square metres, and includes a beach and a promenade extending over a length of 2 kilometers, and natural lakes connected to the sea that are suitable for swimming and yachting, in addition to artificial lakes that are swimmable on an area of 195 thousand square meters, in addition to open spaces representing about 85% of its total area, and a marina. The city center accommodates 50 yacht berths, and four hotels providing more than 1,000 hotel rooms, enhancing the position of the first phase as an integrated tourist destination in addition to sports centers, international commercial shops and restaurants. The first phase will contribute to providing about 30,000 direct and indirect job opportunities, with investments amounting to 220 billion Egyptian pounds.
The general plan of the project includes 22 kilometers of lakes open directly to the sea, complete with a water walkway and extended beaches, 850,000 square meters of swimmable artificial lakes throughout the entire project, an international marina equipped to receive yachts with a capacity of up to 370 berths, a local marina with 120 berths, and an 18-hole international golf course extending over an area of approximately 980,000 square meters with a direct view of The sea, in addition to more than 3,500 hotel rooms distributed among a group of international hotels and resorts, which consolidates the project’s position as a regional center for yacht tourism, sports and international events.
Sheikh Hamad bin Talal Al Thani, CEO of Qatari Diar, said: “Today we are pleased to launch the first phase of the Alam Al-Rum project in the presence of His Excellency the Prime Minister and his accompanying delegation, in a step that reflects the size of our investments in Alam Al-Rum, which amounts to $29.7 billion across the entire project, of which $3.5 billion are direct cash investments. We affirm our commitment to deliver this stage by 2030, based on the stable investment environment and long-term partnerships that the country provides.”
He added: “The first phase represents a living example of our comprehensive vision of a global coastal city that offers a new lifestyle on the Mediterranean, in accordance with the latest standards of urban planning and sustainability. Since the early stages of the project, we have been keen to cooperate with an elite group of international expertise in urban planning, marina design, hotel consulting, landscape architecture and infrastructure, to ensure the implementation of a project that keeps pace with international best practices.”
