Egypt has unveiled plans for the Monte Galala Towers and Marina, a $1.07 billion development on the Gulf of Suez that will feature a marina, hotels, residential units, and leisure facilities.
The project, led by Tatweer Misr in partnership with the Ministry of Housing and state entities including the Armed Forces Engineering Authority, will comprise 10 towers and cover approximately 470,000 square metres, located 35 kilometres south of the Red Sea resort town of Ain Sokhna.
Construction is expected to begin in the second half of 2026 and span roughly seven years, according to Ahmed Shalaby, managing director of Tatweer Misr. The total investment is estimated at around 50 billion Egyptian pounds.
The Monte Galala development forms part of Egypt’s broader strategy to expand coastal tourism and diversify offerings beyond traditional destinations such as Sharm El-Sheikh and Hurghada. Tourism remains a vital source of foreign currency, with government targets aiming for 30 million annual tourist arrivals by 2030, up from an estimated 19 million in 2025.
Officials say that large-scale projects like Monte Galala, which blend luxury accommodation with long-term housing and recreational facilities, are central to attracting both international tourists and domestic buyers.
The announcement underscores Egypt’s ongoing efforts to stabilise its economy, attract foreign investment, and position tourism as a long-term driver of growth.
