Introduction to Marassi Red Sea: Egyptโs Premier Tourism Destination
The Marassi Red Sea is a flagship Red Sea tourism project. It has an overall investment of 900 billion EGP ($18.6B). It is developed over an area of 170 square kilometers, and it is only 30 minutes away at the Hurghada International Airport. The project will aim at improving the economy of Egypt, generating employment and bringing international tourists. Fundamentally, the project incorporates luxury, sustainability and high levels of regional cooperation. It will become a landmark change in Egyptโs real estate and the tourism industry.
Economic Impact and Job Creation
This is the core of Egyptโs tourism investment. It will generate 150,000 to 170,000 jobs during the construction stage. When this is done, approximately 25,000 permanent jobs will facilitate local employment.
It is expected that the annual revenues will be between 100M and 200M of the tourism-related activities. The project will create the inflows of foreign currency, the national economy will be strengthened, and the growth will be supported in the long term. It will also enhance neighboring businesses in the hospitality, services and Egypt real estate.
Luxury and Sustainability at the Core
The project will have 12 luxury hotels with standard rooms and serviced residences. These will cater to families, business travelers and high end tourists. A world class marina will have one main harbor, two boutique marinas and a 400 meter pier. Maldives inspired floating cabins will be a unique experience, private beaches and tranquil lagoons will be exclusive. Over 500 retail and dining outlets will be a community hub. Schools, hospitals and wellness centers will be for residents and visitors. The Marassi Wonders District will combine leisure and business with an international conference center, aqua park, sports clubs and commercial zones. Sustainability is key with designs focused on protecting coastal ecosystems and long term environmental balance.
Strategic Partnerships Driving Growth
A Saudi Emirati partnership drives the project. The development is a collaborative effort involving several key stakeholders, including:
- Emaar Misr for Development: A subsidiary of Dubaiโs Emaar Properties, Emaar Misr is a major player in the project, bringing its vast experience in large-scale real estate developments.
- Sky Tower for Real Estate Development: This Emirati-backed firm adds significant expertise in mega-projects to the partnership, ensuring high-quality construction and design.
Golden Coast: A subsidiary of Saudi Arabiaโs City Stars Group, Golden Coast will provide regional investment and development support.
The alliance was publicly declared in an event aired in Cairo, in the presence of the Prime Minister, Mostafa Madbouly. This partnership highlights the desire of Egypt to expand its economy by engaging in the region and effective cross-border relations.
