Gulf Arab Countries Invest $39.4 Billion in Egypt in 2023-2024
According to the Central Bank of Egypt, investments from Gulf Arab countries in Egypt reached $39.4 billion in 2023-2024, up from $4.3 billion in the previous fiscal year. The United Arab Emirates (UAE) dominated with 95.3% of the total, amounting to $37.5 billion, primarily focused on construction projects.
This amount includes the Ras al-Hekma agreement signed in February 2024, in which ADQ Holding invested $24 billion in a real estate project.
In the last quarter of the fiscal year, net Arab investment flows totaled $20.9 billion. Saudi Arabia increased its investments by $221.3 million, reaching $585.5 million, while Qatari investments progressed by $141.4 million to $447 million.
Overall, Egypt attracted $46.1 billion in foreign direct investment (FDI) in 2023-2024, marking a 361% increase compared to the previous fiscal year. The government aims to attract $30 billion in FDI for 2024-2025.
