Egypt’s state institutions and the private sector have joined forces to boost the country’s tourism offerings with the announcement of Il Mont Galala Towers and Marina project.
Announced last week in Cairo by Tatweer Misr, the project’s lead developer, the mixed-use development, valued at $1.06 billion, will be situated in Ain Sokhna on the Western shore of the Gulf of Suez. The 470,000 m2-spanning project will include residential properties, hotels, and a 150-berth marina.
In addition, the development will include a conference and exhibition center.
The ceremony, which was hosted by the Cabinet, was overseen by Prime Minister Mostafa Madbouly. Construction for the project is expected to begin in late 2026 and take 7 years to complete.
“This project exemplifies integration between government vision and private-sector execution. It positions Ain Sokhna as a premier hub for yacht tourism, conferences, and exhibitions, while promoting sustainable investment,” said Tatwir Misr CEO.Ahmed Shalaby
The marina will be overseen by IGY Marinas. Earlier this year, the MarineMax subsidiary was announced to manage the Wynn Al Marjan Island marina. The property, located in Ras Al Khaimah, UAE, plans to feature a 101-berth superyacht marina that welcomes vessels up to 85 meters in length.
Other deals announced include French firm Schneider Electric, which will oversee the development’s smart infrastructure, energy efficiency, and sustainability systems. Hospitality group Marriott will operate the project’s hotels and serviced apartments.
Egypt has witnessed significant progress in its effort to promote marine tourism in recent years. In May 2025, foreign-flagged, commercially registered yachts were permitted to cruise Egyptian waters restriction-free.