- Emaar Misr and City Stars partner with Egypt to launch Marassi Red Sea, a USD 18.5B tourism megaproject on Hurghada’s coast.
- The development covers 2,426 feddans, adding 12 luxury hotels, marinas, retail, and residential units only 30 minutes from Hurghada Airport.
- The project will generate up to 170,000 jobs and position the Red Sea as a world-class sustainable tourism and investment hub.
Red Sea
Prime Minister Mostafa Madbouly witnessed the signing of a partnership contract between Emaar Misr and City Stars with the Egyptian government to launch their latest project, Marassi Red Sea.
The development, with investments totaling EGP 900 billion, will cover 2,426 feddans and is located 30 minutes from Hurghada Airport.
Plans include 12 luxury hotels, thousands of hotel rooms, residential units, marinas, retail outlets, schools, hospitals, and an international convention center. The design incorporates swimmable lagoons, waterfront promenades, and large green areas to promote sustainability. Furthermore, the intention is for this to be completed within four years.
Economic Impact
Government officials expect the project to create 150,000 to 170,000 direct and indirect jobs during construction and early operations. Once completed, Marassi Red Sea will provide around 25,000 permanent jobs in hospitality, retail, and marina management. The project is also anticipated to generate positive impacts for related sectors, including Hurghada Airport, Safaga Port, agriculture, and logistics.
It is noted that this partnership was made possible following the state’s efforts to finalize a settlement ensuring the extension of land use rights and securing the state’s entitlements, while authorizing Emaar as the real estate developer for the project. The development builds on the experience of Marassi North Coast, which has significantly expanded Egypt’s Mediterranean tourism appeal. Emaar’s Red Sea project intends to replicate this success and enhance the region’s competitiveness against established global tourism destinations.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
