Egypt is spending big money to boost tourism in its Red Sea region.

Work on the EGP50 billion Il Monte Galala Towers and Marina Project near Ain Sokhna on the Gulf of Suez is set to get under way later this year, with construction set to last seven years.

Reuters reports that the development is a partnership with Egypt’s housing ministry and other state institutions including the army’s engineering authority. According to Ecofin Agency, the 470,000 m² project will include 10 mixed-use towers covering 280 000 m², with nearly 2 600 residential and hotel units.

An international marina is also planned, with capacity for more than 150 yachts and a 28 000m² exhibition and conference centre.

The main developer is Egyptian real estate group Tatweer Misr, US-based IGY Marinas will manage the marina, Britain’s BCI Realty will operate the exhibition and conference centre, and France’s Schneider Electric will deploy smart infrastructure systems.

It was reported last year that Egypt-listed real estate firm Emaar Misr for Development had signed a deal to build a EGP900 billion tourism complex in Soma Bay, 380 km south of Ain Sokhna. Dubbed Marassi Red Sea, the project is expected to be completed in four years.

Egypt is aiming to boost its tourism numbers from 19 million to 30 million by 2030.

17 February 2026
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