Matouk Bassiouny & Hennawy (“MBH”) is proud to have acted as co-legal counsel alongside White & Case to Qatari Diar, a leading real estate investment company wholly owned by the Qatar Investment Authority, in connection with a USD 29.7 billion investment for a strategic partnership with the New Urban Communities Authority (“NUCA”).

The Partnership aims to develop an integrated urban community spanning over 20 million square meters along the Mediterranean Sea at Alam El Roum area, Egypt.

Qatari Diar will contribute to NUCA, USD 3.5 billion in foreign direct investment for the acquisition of the Project’s land, in addition to in-kind contribution of around 397,000 square meters of established residential units, while the total investment for the development of the Project is estimated at USD 26.2 billion, providing vital capital to support Egypt’s debt reduction and economic growth.

The Project is directed towards revolutionary transformation of Alam El Roum area to become a premier coastal destination, generating over 250,000 jobs and featuring luxury residences, hotels, schools, healthcare facilities, entertainment amenities, and international and local marinas, all to be delivered through a wholly owned subsidiary of Qatari Diar, planned for establishment, elevating the area into a vibrant year-round hub for tourism, investment, and community life.

The MBH team advising on the transaction was led by Tamer El Hennawy (Partner, Co-Head of Capital Markets and Corporate and M&A) and Amr Baggatto (Partner).

The White & Case team advising on the transaction was led by Said Hanafi (Partner) and Ziad Gadalla (Partner).

For more about Matouk Bassiouny, visit matoukbassiouny.com.

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