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Qatar Diar, the real estate arm of the Qatar Investment Authority (Qatar’s sovereign wealth fund), is in negotiations with a consortium of Egyptian banks to obtain a loan of 20 billion pounds to contribute to the financing of construction work on the Alam Al-Rum project on the North Coast, as part of the company’s plans to implement the first phase of the project, according to Al-Sharq Bloomberg.
The company has begun negotiations with the banks of Qatar National Bank of Egypt, Al Ahli Egypt and Banque Misr to arrange financing, with expectations of marketing the loan to other banks operating in the local market, with the aim of forming a banking alliance to provide the required amount.
The "Rum's Flag" project is located east of the city of "Marsa Matrouh" and 50 kilometers from "Ras Al-Hikma"
Qatari Diar intends to direct the proceeds of the loan to cover part of the investments needed for the development of the project, as the investments of the first phase are estimated at 220 billion pounds, according to previous statements by Hamad bin Talal Al-Thani, CEO of the company.
In November 2025, the company signed a partnership agreement with the New Urban Communities Authority in Egypt to develop the “Rumor Flag” project, with a total investment of $ 29.7 billion, while it received the land of the first phase last March, and aims to start delivering the units to customers during 2030.
The Romans Project
The ‘Rum’ flag project is located east of Marsa Matrouh on the Mediterranean coast, about 50 kilometers from Ras al-Hikma, and is planned to continue its development for 15 years, including residential units, tourist and hotel components, as well as commercial and recreational activities.
The financing negotiations coincided with Egypt’s launch of an investment zone within the “Rumi Flag” project, with the aim of facilitating licensing procedures and attracting new investments to an integrated city that aims to work throughout the year, according to Mohamed Awad, CEO of the General Authority for Investment and Free Zones.
Sales of the first phase exceed the target
For his part, the head of the development and project delivery sector in Asia and Africa at the Qatari Diar Company, Talib Al-Athba, said that the sales of the first phase exceeded the target, without disclosing its value, pointing out that the percentage of non-Egyptian buyers exceeded 30%, compared to a previous target of 20%.
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