Egypt has announced plans for a new $1 billion marina, hotel, and housing development on the Red Sea as part of efforts to strengthen the country’s tourism sector.
The project, named the “Monte Galala Towers and Marina,” was revealed on Monday and is expected to significantly enhance tourism infrastructure in the region, according to Reuters.
Construction is scheduled to begin in the second half of the year and will span seven years, according to Ahmed Shalaby, managing director of the main developer, Tatweer Misr.
The development will include 10 towers and is being carried out in partnership with the housing ministry and other state bodies, including the armed forces’ engineering authority.
Don’t Miss This:
Egypt Says It Paid $5 Billion To Foreign Oil Partners, Targets Arrears Reduction
Shalaby said the project will cost about 50 billion Egyptian pounds ($1.07 billion) and will cover an area of 470,000 square metres along the Gulf of Suez, approximately 35 kilometres south of Ain Sokhna. The cabinet also formally announced the project.
The development aligns with Egypt’s broader tourism strategy, which aims to increase total tourist arrivals to around 30 million by 2030, up from about 19 million recorded by the tourism ministry in 2025.
Don’t Miss This:
TVS Motors In Early Talks To Build Africa’s Largest Motorcycle Plant In Egypt
Image Credit: Asharq Al-Awsat
