Suez Canal for Modern Boats Company, a joint venture between the Suez Canal Authority (SCA) and South Red Sea Shipyard, inaugurated the first nationally built superyacht, a 37-meter Sportfisher.
With exterior design by American firm Fry Associates Inc., and interior design by Italian designer Georges Vafiadis, the tourist yacht is part of the partnership’s efforts to establish Egypt as a maritime tourism destination.
Powered by 2,600-horsepower MTU engines, the vessel boasts a master suite, four guest cabins for 12 guests, and eight crew members. The yacht was built in accordance with Italian classification society RINA standards.
Commenting on the occasion, SCA Chairman Osama Rabie explains this project as part of an “ambitious vision to advance local shipbuilding under the slogan Made in Egypt, achieving world-class quality and preparing for regional and international competition.”
Meanwhile, Mostafa El-Deigishi, the CEO of Suez Canal Company for Modern Boats, provided details on multiple projects in the works, including the construction of an 18-meter vessel with a fiberglass mold. The same mold will be used to build other vessels in the pipeline.
In the past year, the SCA, with the engagement of local superyacht services firm, Felix Maritime Agency. has introduced a string of regulatory and policy measures to position Egypt as a superyacht hub. In May, the country opened its territorial waters to commercially registered, foreign-flagged yachts, allowing the global superyacht fleet to explore the Red Sea coastline.
The eighth edition of the Egypt International Boat Show takes place at the Cairo International Convention Center from February 5-8 2026.