Foreigners Account for 30% of Phase 1 Sales in 'Alam El Roum'
Qatari Diar stated that foreigners accounted for 30% of the first-phase sales in the 'Alam El Roum' project in Egypt, surpassing the target.
Taleb Al-Athba, Chief Officer of Project Development and Delivery for Asia and Africa at Qatari Diar, said that foreigners accounted for 30% of the first-phase sales of the 'Alam El Roum' project on Egypt's North Coast, exceeding the company's 20% target.
Speaking at a press conference in Cairo reported by Al-Shorouk portal, Al-Athba added that the project spans an area of 4,900 feddans, and that the company is working on developing a 50,000-square-meter service free zone targeting the technology, finance, and media sectors.
He explained that the company is developing an international marina and a local marina with a capacity of over 370 yacht berths, making the project a gateway connecting the region to international maritime shipping routes.
It is worth noting that Qatari Diar, the real estate arm of the Qatar Investment Authority, signed a partnership agreement in November 2025 with the New Urban Communities Authority in Egypt to invest $29.7 billion in developing a tourism project, holding a land bank in Egypt reaching 64 million square meters.
What Do These Terms Mean?
First Phase: The initial part of the project offered for sale and delivery prior to the remaining phases.
Sales Target: The percentage or figure that the company plans to achieve in sales over a specified period.
Land Bank: The total parcel of land owned by or allocated to the company in a specific area for development.
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