Coastal cash cow 🌊

• Egypt denounces Israel for Doha attack 🇶🇦

• $18 billion Red Sea Gulf investment 💰

• IMF coming to Cairo 🔜

• Few inspections before GEM opens 💎

QATAR | ISRAEL | MIDDLE EAST
EGYPT WARNS OF ‘DANGEROUS PRECEDENT’ AFTER ISRAEL STRIKES IN QATAR

We can’t begin this week’s roundup without addressing the Israeli airstrike in Doha last week — a move that outraged the diplomatic world and put regional geopolitics at an even greater risk. The strike targeted Hamas leaders who were invited to discuss a US-backed ceasefire plan. Egypt condemned the attack as a “flagrant violation of international law” and “an unacceptable assault” on Qatar’s sovereignty.

Regional backlash: Egypt warned the incident undermines mediation efforts and threatens wider regional security, expressing solidarity with Qatar and urging international accountability. The Arab League echoed this stance, with Secretary-General Ahmed Aboul Gheit labeling the strike a blatant violation, while spokesperson Jamal Rushdi emphasized Qatar’s central role in ongoing mediation alongside Egypt and the US.

Escalation risk: The strike, confirmed by Israel in cooperation with Shin Bet, came just hours after Israel announced it had accepted a ceasefire proposal — the very plan Hamas leaders were in Doha to discuss. Qatar denounced the attack as “cowardly,” warning it endangered civilians as explosions hit near residential areas. Days later, US President Donald Trump, visibly frustrated with Israel’s move, hosted Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani at a private dinner in New York to try to contain the fallout and ease escalating tensions.

GULF | REAL ESTATE DEVELOPMENT | RED SEA
ANOTHER ONE: $18 BILLION GULF INVESTMENT SIGNED FOR RED SEA RESORT MEGAPROJECT

Egypt has unveiled Marassi Red Sea, a USD 18 billion mega tourism project developed through a joint venture between Emaar Misr and City Stars. The agreement was signed under the patronage of Prime Minister Mostafa Madbouly, formalizing Emaar’s role as master developer.

What’s in the project: Spanning 2,426 feddans (10.2 square kilometers) near Hurghada, the resort will feature 12 luxury hotels, a world-class marina, Maldives-inspired floating cabins, over 500 retail and dining outlets, and a multipurpose district with a conference center, sports facilities, and an aqua park. Officials expect 150,000–170,000 jobs during construction and 25,000 permanent roles once operational.

Why it matters: The project builds on the success of Marassi North Coast, which drew four million visitors in just three months this summer. Emaar is seen as a key partner to transforming Egypt’s Red Sea coast into a global luxury hub. Together with last year’s Ras El Hekma’s USD 35 billion agreement with UAE’s Modon, Marassi Red Sea reaffirms Egypt’s strategy of using Gulf-backed direct investments to boost foreign currency inflows, tourism, and long-term economic resilience.

IMF | LOAN | ECONOMIC REFORMS
IMF MISSION TO CAIRO COMING OCTOBER: WANT DEEPER REFORM EFFORTS

With macroeconomic stabilization underway, the International Monetary Fund (IMF) says now is the moment for Egypt to press ahead with deeper reforms. IMF Communications Director Julie Kozack made the remarks at a press briefing, stressing the need to reduce vulnerabilities and boost private sector participation.

Reviews in motion: Kozack confirmed that the fifth and sixth reviews of Egypt’s USD 8 billion Extended Fund Facility (EFF) program will be combined and completed this fall. An IMF mission is expected in Cairo in the coming months, though no date was confirmed. The outcome will determine the next disbursements under the EFF program.

What to expect: The IMF will also assess Egypt’s USD 1.3 billion Resilience and Sustainability Facility (RSF), with its first review taking place alongside the EFF process. Around USD 274 million in RSF funds hinge on two scheduled reform measures.

GEM | TOURISM | HISTORY
EGYPT’S PM INSPECTS GRAND EGYPTIAN MUSEUM AS NOVEMBER OPENING APPROACHING

Egyptian Prime Minister Mostafa Madbouly toured the Grand Egyptian Museum (GEM) site to monitor final development work and accelerate preparations ahead of its official inauguration on 1 November, calling the monument “a great civilizational achievement.” 

What’s being checked: Accompanied by ministers and officials overseeing tourism, aviation, antiquities, and engineering, Madbouly reviewed progress on infrastructure, finishing touches, and aesthetic and functional readiness. He emphasized that the opening must “reflect the richness and grandeur of ancient Egyptian civilization.” 

Why it matters: The visit underscores how much is riding on the GEM opening — not just for tourism but for national image. The government is treating it as a global event, expecting big international attendance and media, and using it as a moment to showcase Egypt’s heritage and development success.