Matouk Bassiouny & Hennawy And White & Case LLP Advised Qatari Diar On USD 29.7 Billion Strategic Partnership With NUCA
MBH and White & Case advised Qatari Diar on USD 29.7B strategic partnership with NUCA in Egypt.
Matouk Bassiouny & Hennawy and White & Case LLP advised Qatari Diar on USD 29.7 billion strategic partnership with NUCA
Matouk Bassiouny & Hennawy (“MBH”) acted as co-legal counsel alongside White & Case LLP 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”) in Egypt.
The partnership will develop an integrated urban community spanning over 20 million square meters along the Mediterranean Sea at the Alam El Roum area. Qatari Diar will contribute USD 3.5 billion in foreign direct investment for the acquisition of the Project’s land, in addition to an in-kind contribution of approximately 397,000 square meters of established residential units. 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 development aims to transform Alam El Roum into a premier coastal destination, generating over 250,000 jobs and featuring luxury residences, hotels, schools, healthcare facilities, entertainment amenities, and international and local marinas. The Project will be delivered through a wholly owned subsidiary of Qatari Diar, elevating the area into a vibrant year-round hub for tourism, investment, and community life.
The MBH team advising Qatari Diar was led by Tamer El Hennawy (Partner, Co-Head of Capital Markets and Corporate & M&A)and Amr Baggatto (Partner).
The White & Case team was led by Said Hanafi (Partner) and Ziad Gadalla (Partner).
Matouk Bassiouny & Hennawy is a leading full-service MENA (Middle East and North Africa) law firm, not a global one. It has offices in Egypt, the UAE, Sudan, and Algeria, along with a New York satellite office and country desks for Libya and South Korea, and frequently collaborates with international firms to serve its multinational clients.
White & Case is a global law firm that advises companies, governments, and financial institutions on complex domestic and cross-border legal matters.
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