Egypt’s government announced Thursday the signing of a $29.7 billion partnership agreement with Qatar to develop a major urban project in Alam al-Rum, Marsa Matrouh Governorate, on the Mediterranean coast.

The deal was signed at the Cabinet headquarters in Cairo in the presence of Prime Minister Mostafa Madbouly and ministers from both countries.

The project will include upscale residential and tourism complexes, along with integrated service facilities such as power and water stations, hospitals, schools, and universities.