Egypt announced plans on Monday for a $1 billion marina-led development on its Red Sea coast, part of a broader push to expand tourism, attract long-term investment, and strengthen coastal infrastructure.
The project, known as Monte Galala Towers and Marina, will include a yacht marina, hotel facilities, and residential buildings, officials said. Construction is expected to begin in the second half of the year and continue for seven years.
Developer outlines scope and timeline
The development will be led by Tatweer Misr, one of Egypt’s largest private real estate firms. Managing Director Ahmed Shalaby said the project will consist of 10 towers and carry a total investment of about 50 billion Egyptian pounds, or roughly $1.07 billion.
Shalaby said the project is designed to combine tourism, residential, and commercial functions around a central marina, reflecting a growing focus on mixed-use coastal developments in Egypt.
Government backs project through state partnerships
Prime Minister Moustafa Madbouly attended the project’s launch during a Cabinet ceremony, signaling strong government backing for large-scale tourism and real estate projects along the Red Sea.
Egypt has announced a $1 billion mixed-use development project, the Monte Galala Towers and Marina, which will enhance tourism and foreign investment on the Red Sea coast.
The development will span approximately 470,000 square meters and include various facilities such as… pic.twitter.com/OxPyEnaGtC
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The development will be built in partnership with Egypt’s Ministry of Housing and other state bodies, including the Armed Forces Engineering Authority, according to Shalaby. Officials have increasingly promoted cooperation between public institutions and private developers as a way to accelerate major infrastructure projects.
Site spans the Gulf of Suez coastline
Officials said the project will cover about 470,000 square meters (116 acres) along the Gulf of Suez, roughly 35 kilometers (21.7 miles) south of Ain Sokhna, a rapidly expanding resort and industrial zone.
Ain Sokhna has emerged as a strategic location due to its proximity to Cairo, the Suez Canal, and major transport corridors. The area has seen increased investment in ports, roads, and tourism facilities in recent years.
Year-round tourism seen as economic driver
Officials said the marina and surrounding facilities are expected to operate year-round rather than seasonally, supporting yacht tourism, conferences, and employment along the Red Sea coast. Reducing reliance on peak travel seasons has been a long-standing goal for Egypt’s tourism sector.
Tourism remains a key source of foreign currency for Egypt’s economy. The government aims to increase annual tourist arrivals to around 30 million by 2030, up from about 19 million recorded in 2025, according to figures released by the tourism ministry.
The Red Sea coast has played a central role in that strategy, with authorities seeking to diversify offerings beyond traditional beach resorts by expanding marina tourism, cultural events, and business travel.
