Egypt unveils 50B EGP Il Monte Galala Towers, Marina project

CAIRO - 10 February 2026: Prime Minister Mostafa Madbouly witnessed the launch of the "Il Monte Galala Towers and Marina" project in Ain Sokhna on Monday, marking a major milestone in Egypt’s strategy to transform the Red Sea coast into a year-round investment hub.

The project, developed by Tatweer Misr, represents a total investment of approximately 50 billion EGP ($1 billion). Speaking at the New Administrative Capital, Madbouly described the development as a prime example of the state’s commitment to empowering the private sector. "This project is a model for partnership between the state and private enterprise, aligning with Egypt's Vision 2030 to expand urban development and reach 30 million tourists annually," the Prime Minister said.

The development serves as a critical extension of Galala City, a massive state-led plateau development situated 700 meters above sea level. Designed to alleviate pressure on Cairo, Galala City has evolved into a regional center for education and tourism, featuring a major university and a high-speed road network. Il Monte Galala acts as the maritime gateway for this new urban center, bridging the gap between high-altitude mountain living and luxury coastal infrastructure.

Spanning a built-up area of 470,000 square meters, the project features 10 multi-use towers, 2,600 residential and hotel units, and an international marina capable of docking over 150 yachts. Unlike traditional seasonal resorts in Ain Sokhna, Il Monte Galala is designed as a fully integrated destination operating 365 days a year, bolstered by its proximity to the New Capital.

A series of strategic agreements were signed during the event to ensure international standards of operation:

• IGY Marinas (USA) will serve as the international consultant for the marina's management.

• BCI Realty (UK) will manage the 28,000-square-meter exhibition and convention center.

• Schneider Electric (France) will develop the project’s smart infrastructure and energy-efficiency systems.

• Marriott International had previously been secured to manage the project’s hospitality and serviced apartments.

Dr. Ahmed Shalaby, CEO of Tatweer Misr, announced that construction is slated to begin in the second half of 2026, with a seven-year timeline for completion. The project is being executed under the supervision of the Ministry of Housing and in coordination with the Armed Forces Engineering Authority, which will oversee the marina’s technical execution.

Cabinet spokesperson Mohamed El-Homsani noted in a statement that the project serves as a "strategic maritime gateway," aiming to attract long-term investment and boost high-value tourism sectors, including yachting and international conferences.