Dr. Abdul Menem Said, director of the Cairo Center for Economic Studies, described the Alam El Rowd development project between Egypt and Qatar as a major investment initiative and one of several Qatari-backed ventures in the country. n nIn a televised interview on DMC’s “Youm” program, he explained that the project involves developing a comprehensive urban community in the Alam El Rowd area, located approximately 50 kilometers from Ras El Hekma, across a 4,900-feddan site—equivalent to nearly 20 million square meters. n nThis development will go beyond a residential compound, encompassing schools, universities, and hospitals, contributing to the broader transformation of Egypt’s northwestern coast. n nThe initiative is projected to create around 250,000 jobs and drive construction and development investments totaling $29.7 billion. n nAdditionally, the Egyptian treasury is set to receive $3.5 billion by late December, along with a 15% share of the project’s future revenues and an in-kind allocation valued at $1.8 billion, consisting of residential and administrative units within the development—amounting to approximately 397,000 square meters designated for Egypt’s share. n
— news from صدى البلد