Cairo: Qatari and Egyptian economists and analysts have praised the signing of the Qatari-Egyptian Investment Partnership pact to develop a project in the Alam El-Roum area of Matrouh Governorate. They emphasized its potential to enhance collaboration between the two nations, marking a significant step forward in their economic relations.
According to Qatar News Agency, the project spans 4,900 acres and extends along 7.2 kilometers of Mediterranean coastline. It is part of a broader agreement to activate the Qatari investment package in Egypt. The signing of this initiative is seen as a crucial springboard for investment collaboration, aiming to support the Egyptian economy, create new job opportunities, and drive development along Egypt’s northwest coast, an area experiencing unprecedented investment growth.
Dr. Ahmed Gaith Al Kuwari, a consultant and political relations expert, described the project as more than an investment deal, considering it a declaration of a new economic and political alliance. He noted that the project represents the expansion of Qatari-Egyptian relations into broader horizons, aligning with Qatar National Vision 2030 and Egypt Vision 2030, both focused on sustainable development and geo-economic strength. Al Kuwari highlighted the project’s role as an economic gateway, strengthening ties between Doha and Cairo, and emphasizing Qatar’s global investment diversity, particularly in the Arab world.
Economic expert Dr. Abdullah Al Khater remarked on the remarkable growth and strategic convergence between Qatar and Egypt, noting the evolution of their relationship into a comprehensive economic and developmental partnership. He explained that the initiatives in Egypt’s North Coast real estate and tourism sectors are creating a foundation for a common Arab market and harmonized development plans. Al Khater emphasized that Qatari investments bolster Egypt’s economy, enhance stability, and drive growth.
Khaled Al Shafei, head of the Capital Center for Economic Studies and Research, pointed out that the pact signals a new era in Qatar-Egypt partnership in real estate and tourism. He predicted a significant economic and tourism boom, generating thousands of job opportunities and boosting Egypt’s position as a key tourism destination in Europe and the Middle East. Al Shafei described the partnership as a testament to the depth of economic ties between Qatar and Egypt, paving the way for further investments across various sectors.
Egyptian banking analyst Ahmed Adam highlighted the project’s potential to establish a luxurious development and tourism city, similar to global projects. He noted that the Qatari investment enhances Egypt’s foreign currency reserves and reflects Gulf investors’ confidence in Egypt’s investment environment. Adam emphasized the project’s role in creating job opportunities and transferring expertise in urban planning, real estate development, and luxury hospitality operations.
Dr. Mohamed Anis, an Egyptian economic expert, affirmed that Qatari Diar’s investment in Egypt offers high added value. He explained that the project will attract foreign investors, boost Egypt’s real estate export, and generate additional US dollar earnings. Anis highlighted the project’s potential for job creation during its implementation phase and its contribution to industries related to construction and development.
Dr. Hafez El Ghandour, a finance and investment consultant, described the venture as an ideal sustainable development project, ensuring comprehensive coastal and leisure tourism. He emphasized that the initiative aligns with the sustainable development strategies of both nations and would elevate the economic and tourism value of the Matrouh Governorate. El Ghandour noted the area’s exceptional natural endowments, predicting it will become a world-class tourism city operating year-round.