Qatari Diar to start work on Red Sea tourism project by 2026-end: Report

By Zawya

By Staff Writer

Qatari Diar, the real estate subsidiary of the Qatar Investment Authority, is set to receive 29 million square metres (sqm) of land in Hurghada on the Red Sea coast to begin work on its integrated tourism project, according to a news report.

The land will be handed over to the Qatari developer this week, unnamed sources told Asharq Business.

The developer plans to launch the first phase before the end of 2026, with partnership offers from Egyptian and Gulf developers.

The project has a 20-year development period, the report said.

In July, Qatari Diar appointed Skidmore, Owings & Merrill (SOM) as the master planner of the $30 billion Alam Al Roum in Egypt's North Coast.

(Editing by Anoop Menon)

(anoop.menon@lseg.com)

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