Emaar Misr to Lead $18.5 Billion Red Sea Tourism Development

Egypt lands multi-billion-dollar project for Red Sea tourism

Egypt-listed real estate firm Emaar Misr for Development signed a deal to build a tourism development on the Egyptian Red Sea with Saudi Arabian and Emirati partners, saying the project could eventually generate investments worth 900 billion Egyptian pounds ($18.58 billion). Senior officials from the companies involved - Emaar Misr for Development, Sky Tower for Real Estate Development, and Golden Coast, which is owned by Saudi Arabia's City Sta…

Saudi Arabia, UAE firms sign $18.5B tourism megaproject for Egypt

The new deal forms part of Egypt’s Vision 2030 agenda as the government aims to secure $42 billion in foreign direct investment this year.

Emaar Misr signs deal for multi-billion-dollar Egypt Red Sea tourism development

CAIRO: Egypt-listed real estate firm Emaar Misr for Development signed a deal to build a tourism development on the Egyptian Red Sea with Saudi Arabian and Emirati partners, saying the project could eventually generate investments worth 900 billion Egyptian pounds (US$18.58 billion). © New Straits Times Press (M) Bhd

Emaar Misr to Lead $18.5 Billion Red Sea Tourism Development

Emaar Misr for Development has partnered with Saudi and Emirati firms to develop a major tourism project on the Egyptian Red Sea, potentially attracting 900 billion Egyptian pounds in investments. The project, Marassi Red Sea, aims to generate substantial annual revenue from tourism as part of Egypt’s economic revitalization efforts.

Red Sea Marassi to drive growth, jobs, but developers struggle with USD volatility, high rates: Sawiris - Dailynewsegypt

Egyptian businessman Naguib Sawiris has praised the government’s recent signing of contracts for the largest tourism project on the Red Sea, developed in partnership with Emirati and Saudi investors. He said the project would create significant job opportunities, boost growth, and invigorate Egypt’s tourism sector. Sawiris’s remarks came during the opening of the ninth edition of the Think Commercial roundtable, held under the theme: “The Real E…