Egypt has unveiled plans for a $1 billion marina and hospitality development on its Red Sea coast as it steps up efforts to strengthen tourism revenues and attract foreign investment. The project will be located near Ain Sokhna on the Gulf of Suez and is designed to support both leisure and business tourism, as outlined by government officials. The development forms part of Egypt’s broader strategy to diversify its tourism offering beyond traditional beach resorts, as reported by Reuters.
The project, known as the Monte Galala Towers and Marina, will span about 470,000 square metres and include 10 mixed-use towers housing hotels, serviced apartments and residential units, alongside a marina with capacity for more than 150 yachts. It will also feature a large exhibition and conference centre aimed at expanding Egypt’s meetings and events tourism, according to details released by Egypt’s State Information Service.
International partners are expected to play key roles in the project. U.S.-based IGY Marinas will manage the marina operations, while global hotel operator Marriott International will oversee the hospitality components. Egyptian authorities said these partnerships are intended to ensure global standards in marina management, accommodation and event hosting, as highlighted in SIS Egypt.
Construction is expected to begin in the second half of 2026, with the project to be delivered in phases over several years. Officials say the development supports Egypt’s ambition to attract up to 30 million tourists annually by 2030, positioning the Red Sea as a year-round destination and a major contributor to economic growth, as cited by Reuters.
Image Credit: redseaglobal.com
