Qatari Diar and Estithmar Holding announce major regional developments

Qatari Diar has taken possession of a 29 million-square-metre site in Hurghada, Egypt, to begin a large-scale integrated tourism development. The project, located along the Hurghada-Safaga road, follows a land-allocation agreement with the Egyptian government and aims to launch its first phase by the end of 2026. This development supports Egypt’s goal of reaching 30 million annual tourists by 2030.

In Qatar, Estithmar Holding’s Elegancia arm has secured a construction contract worth over QAR 500 million from MEEZA. The project involves the construction of a Qatari AI data centre in two phases. While the contract covers site preparation, mechanical and electrical systems, and ICT, specific details regarding the facility's power capacity and completion deadlines have not been disclosed.