Egypt announces co-operation with Qatar on real estate project
Egyptian PM Mostafa Madbouly said his country and Qatar will work together on a ‘very important’ real estate investment project on the north coast of, according to a cabinet statement on November 27th as reported by the Arab Weekly and agencies.
The statement comes as Qatari PM Sheikh Mohammed bin Abdulrahman Al Thani visits Egypt, where he has met Egypt’s president Sisi and its foreign minister.
Madbouly added there was a ‘request’ from Qatar for tourism investment opportunities in the north coast region, along the Mediterranean, and that this was welcomed by Egypt.
Egypt signed a $35 billion investment deal with the UAE in February this year to develop the Ras al-Hikma peninsula west of Alexandria, as Egypt has been struggling with a prolonged shortage of foreign currency and high inflation.
Arab Weekly
