Qatari Diar, the real estate subsidiary of Qatar Investment Authority, is to invest US $828mn in building hotels in east Cairo and Sharm El Sheikh over the next 4-years.
Citing unidentified sources, Asharq Business reported that Qatari Diar intends to construct 4-hotels, totaling 1,000 rooms, as part of the CityGate project in the Fifth Settlement, east Cairo. The 4-hotels will be developed in collaboration with global hospitality brands.
Qatari Diar is said to already have a landbank in Egypt spanning 64m sqm. It has developed 8m sqm of this land and aims to expand the developed area to 18m sqm within the next 3-years.
The expansion plans extend to Egypt’s Red Sea coast, where the developer is finalising feasibility studies on a luxury hotel complex in Sharm El Sheikh. Spanning 470,000sqm, the project will cost between $350mn and $500mn. The studies are expected to be completed within 18 months, with construction starting in 2027.
In November, Qatari Diar signed a partnership agreement to develop a project on Egypt’s Mediterranean coast, with investments totaling $30bn.
The company is working on completing the masterplan and final designs of the Alam Al-Roum project, located 480km northeast of Cairo. Construction is anticipated to commence in Q4 of 2026. The initial phase of the project will encompass residential, tourism, and hospitality facilities, with investments projected to reach $1bn, as per the report.
