Egypt Unveils $1 Billion Marina Development on Red Sea Coast

Egypt Unveils $1 Billion Marina Development on Red Sea Coast

Egypt unveils a $1 billion Red Sea marina project near Ain Sokhna as part of plans to boost tourism and attract long-term investment. Credit: Wikimedia Commons / Ali Lajami CC BY 2.0 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 in…

Egypt plans $1bn Red Sea marina, hotel development

A tourist rides a beach buggy in Wadi Billi, at El-Gouna near the Red Sea, Egypt, 14 November 2018. Reuters/Mohamed Abd El GhanyEgypt announced plans on Monday for a new $1bn marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry. Read more...

Egypt plans $1bn Red Sea marina and hotel development

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region’s tourist industry. Construction on the “Monte Galala Towers and Marina” project would start in the second half of the year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said. The 10-tower development — a partnership with the housing ministry and other state bodies…