Audio By Carbonatix
Egypt announced plans on Monday for a new $1 billion marina, hotel, and housing development on the Red Sea to boost the region's tourism industry.
Construction on the "Monte Galala Towers and Marina" project would start in the second half of the year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.
The 10-tower development - a partnership with the housing ministry and other state bodies, including the armed forces' engineering authority - would cost about 50 billion Egyptian pounds ($1.07 billion), he added.
The project, also announced by the cabinet, will cover 470,000 square metres on the Gulf of Suez, about 35 km south of Ain Sokhna, Shalaby said.
Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.
Latest Stories
-
Africa World Airlines unveils first Embraer E190 as part of 10-aircraft fleet expansion
41 minutes -
Civilian hospitalised after alleged machete attack by prison officers, inmates
58 minutes -
Toobu rejects calls to recall Parliament over 3.9-tonne cocaine shipment
2 hours -
Residents in 5 Northern Regions warned of approaching rainstorm
2 hours -
Constituency Games still a work in progress – Sports Minister
2 hours -
Team Ghana set for historic Karting Africa Showrun in Angola
2 hours -
52-year-old South African arrested with suspected heroin after arriving from Accra
2 hours -
Shatta Wale challenges UPSA students to build entrepreneurial mindsets
3 hours -
Finance Minister advises African governments to strengthen regional tax cooperation
4 hours -
NPP accuses NDC of master-minding demolition of Ho regional office fence
4 hours -
Ghana plans stronger regional power trade with Nigeria
4 hours -
GRA Commissioner-General calls for stronger tax cooperation to boost regional revenue mobilisationÂ
4 hours -
NACOC needs more personnel to tackle drug trafficking – Toobu
4 hours -
Railway workers resist KMA eviction order, demand consultation
4 hours -
Legacy Leadership Africa Institute to host boardroom women’s leadership programme
5 hours