Mohamed Ramadan’s USA Concert Hits Pause Due to On-Going Global Conflicts!
A Building Collapse in Sayeda Zeinab Has Left Two Dead and Several Injured!
Weekend Covered: From Shaabi Comebacks to Sunset Paint Nights – Cairo’s Got the Range
Loyal Lovin readers can support Lovin so we can continue to share the stories of all amazing cities
Minimum custom amount to enter is AED 2
By donating, you agree to the Privacy Policy and Terms of Service
Qatar Is Considering A Deal Worth $3.5 Billion On Egypt’s North Coast!
Qatar is reportedly in advanced talks to invest a staggering $3.5 billion into a tourism project in the region. Sahel, a stunning area known for its beaches and resorts, might soon be getting a facelift, and it’s all thanks to the Qatari investment.
The Deal in the Works
While the exact location and size of the land are still being ironed out, Bloomberg reports that Qatar and Egypt are in the final stages of negotiations. The deal is expected to be finalized by the end of 2025, setting the stage for a massive transformation in one of Egypt’s top vacation spots.
A Big First Step: $1 Billion Upfront
According to insiders, Qatar’s investment will come in phases. A hefty $1 billion that will be pumped into the project right after the deal is signed. After that, the rest of the investment is expected to roll in over the following 12 months, further fueling the development of the area.
The Bigger Picture: UAE’s $35 Billion Investment
What makes this deal even more exciting is that Qatar’s investment follows closely on the heels of a landmark $35 billion deal with the UAE, which focused on developing a large part of the same coastal stretch. With such massive investments, it looks like Egypt’s North Coast is on track to become a prime hub for tourism and development in the coming years.
Next: Is Menna Shalaby a Bride? This Photo is All Over Social Media and It’s Got Everyone Talking!
Lovin Cairo Newsletter 