Egypt signs US$1bn deals for Monte Galala Towers and Marina
Egypt signed agreements on 9 February 2026 to advance the Monte Galala Towers and Marina in Ain Sokhna, a mixed‑use development valued at EGP 50 billion (about US$1 billion). The project will feature a marina for more than 150 vessels, ten towers with around 2,600 residential and hotel units, and a 2.8‑hectare exhibition and conference centre on a site of about 28 hectares, with an estimated 47 hectares of built‑up space.
Developer Tatweer Misr finalised deals with IGY Marinas to manage the marina, the UK’s BCI Realty to operate the exhibition and conference centre, and France’s Schneider Electric to deliver smart systems, energy efficiency and sustainability infrastructure; hotels and serviced apartments will be operated by Marriott International under an earlier agreement. Construction is scheduled to begin in the second half of 2026 with completion in seven years, supporting Egypt’s Red Sea strategy to grow year‑round tourism, expand yacht and MICE demand, create jobs and attract foreign investment.
Source: Marina World
