Egypt to launch new Red Sea resort construction this year

Egypt will build the new resort on Egypt's Red Sea coast - the Marassi Red Sea project.

The project will be built on an area of 10.2 square km just 30 minutes from Hurghada Airport and is planned to be completed in four years.

The resort will feature a vast waterfront with a private beach and swimmable lagoons, a world-class marina, and a 1.5-km long, 10-metre high elevated “infinity” beach. It will also include 12 luxury hotels, floating Maldives-style cabanas, and over 500 shops and restaurants overlooking the water.

The project will also include schools, hospitals, and a multi-use “Marassi Wonders” area with an international conference centre, a commercial zone, a water park, and world-class sports facilities. Extensive green spaces and a wide-ranging tree-planting plan are also part of the design.

Egypt signed a deal to build a tourism development with Saudi Arabian and Emirati partners. The project could eventually generate investments worth $18.58 billion.

The companies involved are Emaar Misr for Development, Sky Tower for Real Estate Development, and Golden Coast, which is owned by Saudi Arabia's City Stars.