Abu Dhabi is pursuing a substantial land deal and development project along Egypt’s Mediterranean shoreline, with a proposed value around 22 billion dollars. The information is circulating through executive briefings and market sources familiar with the discussions. (Bloomberg)
According to Hossam Heiba, who leads Egypt’s General Authority for Investment and Free Zones, there is cautious optimism that an agreement with the UAE consortium can be finalized in the near term, paving the way for a major cross-border investment that would touch multiple sectors in Egypt’s economy. (Bloomberg)
The proposed development spans roughly 180 million square meters and sits about 350 kilometers northwest of Cairo. There is speculation that Egypt may retain an initial equity stake of around 20%, potentially including an ongoing position for the Talaat Moustafa Group, a leading developer in the country. (Bloomberg)
Market chatter from agency insiders suggests that land values along the Mediterranean coast typically range from about 100 to 120 dollars per square meter. Based on these figures, the base valuation for the project could be around 18 billion dollars. It remains to be seen whether Abu Dhabi would fund the purchase in a single tranche or distribute payments over time. (Bloomberg)
Historically, UAE investment in Egypt has included a notable boom in recent years, with UAE-based entities contributing billions to Egyptian financial institutions and advancing stakes in strategic sectors. In 2022, a significant capital infusion by the UAE supported Egyptian monetary reserves, and a major UAE fund acquired stakes in Egyptian financial services entities, signaling deepening financial ties between the two economies. (Bloomberg)
Earlier discussions indicated that there was strong interest from Gulf investors in Egypt’s real estate and infrastructure stories, reinforcing the sense that the Mediterranean coast corridor could become a focal point for regional capital. (Bloomberg)
It is also observed that regional dynamics can influence property price trajectories and investment appetites, with policy signals from Cairo and Abu Dhabi shaping the speed and structure of any potential agreement. (Bloomberg)