Egypt’s North Coast remains a hot investment destination for the United Arab Emirates, with an Emirati investor reportedly set to strike a $2.7 billion deal in the coming months to develop another Mediterranean tourism project, this time at Jefaira. The investment would be the latest in a string of UAE-linked deals spanning real estate, banking and logistics that have continued to move forward even as turmoil from the US-Iran war has swept through the region. 

While relatively modest compared to other Gulf megaprojects in Egypt, the Jefaira deal would arrive as Cairo’s investment ties with the UAE are gaining increasing significance amid regional upheaval — giving Abu Dhabi increasing political leverage at a moment when the North African nation is increasingly exposed to fallout from the war alongside a regional rift between Saudi Arabia and the UAE. 

What happened: On Aug. 9, Asharq Business reported that Egypt is preparing to award development rights for roughly 642 acres at Jefaira on the North Coast to an unnamed UAE investor. 

The deal would see the investor develop a tourism and hotel project under a revenue-sharing arrangement with the Egyptian government. Officials told the publication that the investor has already paid $2 million and that the final agreement could be signed before the end of 2026.