Baker McKenzie Cairo Advises Egyptian Government on USD 29.7 Billion Alam El Roum Urban Development Partnership with Qatari Diar

"Baker McKenzie Cairo advised the Egyptian Government, represented by the New Urban Communities Authority (NUCA), on a strategic partnership with Qatari Diar to develop the Alam El Roum project on Egypt's Mediterranean coast. The USD 29.7 billion, 20+ million sqm development will include hotels, marinas, luxury residences and commercial and administrative districts to attract FDI and boost tourism."

Baker McKenzie Cairo advised the Egyptian Government, represented by the New Urban Communities Authority (NUCA), in its strategic partnership with Qatari Diar, the real estate investment arm of Doha’s sovereign wealth fund. The transaction concerns the development of a new urban community in the Alam El Roum area along Egypt’s Mediterranean coast, spanning more than 20 million square metres. The project will create a year-round destination featuring world-class hotels, international and local marinas, luxury residences, and diversified touristic, commercial and administrative districts. Valued at USD 29.7 billion, the initiative is positioned to attract substantial foreign direct investment and to support Egypt’s national strategy to enhance tourism infrastructure and accelerate development along the Western North Coast. Baker McKenzie Cairo represented the Egyptian Government (New Urban Communities Authority) with a team composed by: a Cairo-based group of partners and associates from the firm’s corporate, projects and real estate practice. Qatari Diar was represented by its in-house legal department with a team composed by: senior in-house counsel and specialists focusing on real estate and investment matters.

Baker McKenzie Cairo Advises Egyptian Government on USD 29.7 Billion Alam El Roum Urban Development Partnership with Qatari Diar

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