Qatari Diar, a leading developer, has officially announced the launch of the first phase of its landmark $29.7 billion Alam Al Roum project coming up on Egypt's North Coast over a 20.58 million sq m area. The Phase I is set for handover in 2030.
Dana Gas, the Middle East’s largest regional private sector natural gas company, reported a net profit of AED393 million ($107 million) in H1 2026, compared with AED270 million ($73 million) in H1 2025, an increase of 47%.
Egypt’s exploration sector has delivered positive results over the past two fiscal years, with 149 exploration wells drilled and 112 new discoveries made, including 88 crude oil and 24 natural gas finds, the government said. Among the notable discoveries was the Denis offshore gas field in Port Said.
Egypt has launched an international bid round for oil and gas exploration across 14 new areas, covering the Mediterranean Sea, Nile Delta, North Sinai, Gulf of Suez, Sinai and Western Desert. Production had started from Belayim Marine 133 well in the Gulf of Suez, with initial output of about 1,500 barrels per day.
Egypt has launched its 2026 international bid round for crude oil and natural gas exploration, offering 14 new areas to international and Egyptian companies as the government seeks to attract investment, boost domestic production and meet the targets of its five-year output plan.
flynas has inaugurated its first direct flights between Riyadh and Alexandria, Egypt, further expanding air connectivity between Saudi Arabia and regional destinations. The airline will operate three weekly services between Riyadh and Alexandria International Airport.
Orascom Hotels Management (OHM) and Tadweera for Green Education will launch the Green Key environmental certification programme in Egypt during a sustainability event at Sheraton Miramar El Gouna on July 10, 2026.
Accor has signed a dual-branded hotel project in Port Said with Atlas Integrated Contracting Company, introducing ibis Styles and Adagio Original in Egypt. Opening in 2029, the development will feature ibis Styles Port Said with 180 rooms and Adagio Original Port Said with 100 units.
Hassan Allam Holding, a leading engineering and construction company, said one of its key units has secured a contract from Modon Ras El Hekma to build a luxury hospitality and residential project - Montage Hotel and Branded Residences - at Ras El Hekma in Egypt’s North Coast.
Saudi Arabia has launched a major international initiative to safeguard global shipping lanes, securing the backing of 14 countries for a proposed Maritime Defense Alliance as escalating conflict between the US and Iran raises fresh concerns over the security of two of the world's most important maritime trade corridors — the Strait of Hormuz and the Suez Canal.
