Red Sea Marassi is a Unique Project That Strengthens Egypt's Position on the Global Tourism Map

 Investment Cooperation Between Egypt, the UAE, and Saudi Arabia                                               

Emaar Properties Chairman: Red Sea Marassi is a Unique Project That Strengthens Egypt's Position on the Global Tourism Map

Jamal Bin Thaniah, Chairman of Emaar Properties, affirmed that the Red Sea Marassi project represents a new model for investment cooperation between Egypt, the UAE, and Saudi Arabia. He emphasized that the project is the fruit of a partnership bringing together three countries linked by fraternal relations and strong historical ties.

During his speech at the signing ceremony for the construction of the Red Sea Marassi city, held this Sunday evening in the presence of Prime Minister Dr. Mostafa Madbouly, he added that the project, with investments amounting to EGP 900 billion, is being implemented in partnership with the Saudi Cerestar Group and businessman Hassan Sharbatly. This project represents a qualitative leap in the development of the Red Sea coast and repositions the region as an integrated global tourism destination.

The Chairman of Emaar Properties noted that the company had achieved remarkable success with the Marassi North Coast project, which transformed itself into the beating heart of the Mediterranean in a short period of time. In just three months, it attracted more than 4 million visitors, comparable to global tourist destinations such as Ibiza. He emphasized that this success was the main motivation for replicating the experience on the Red Sea coast.

He explained that Marassi Red Sea will add a new dimension to tourism in Egypt, as it aims to attract up to 40% of international tourists to the project's total visitors, enhancing the Red Sea's position as an attractive year-round tourist destination, rather than a seasonal one, as is the case with the North Coast.

 He added that the project's location was carefully selected to be just minutes from Hurghada, while simultaneously supporting the region's tourism infrastructure by enhancing the role of Hurghada Airport and Safaga Port, as well as contributing to the revitalization of the surrounding agricultural and logistics sectors.

Bin Thaniah emphasized that the project is designed to be an integrated destination featuring a unique waterfront, a private beach, high-quality hotels, flexible marinas, and green spaces, in addition to hospitality projects, restaurants, and commercial activities. He noted that it will provide between 150,000 and 170,000 direct and indirect job opportunities during the construction phases, in addition to approximately 25,000 permanent jobs once fully operational.

He emphasized that Marassi Red Sea will not be merely a tourism project, but rather a new qualitative addition that enhances Egypt's position as a global investment and tourism destination. He explained that Emaar sees this project as the beginning of a greater launch for its future projects in Egypt.

 Jamal Bin Thaniah concluded his speech by thanking the Egyptian government for its continued support, emphasizing that Emaar Misr will continue its commitment to being a distinguished investment partner that contributes to supporting the Egyptian economy and enhancing the country's position on the global tourism map.