Mohamed Alabbar Reveals Cost of Giant Red Sea Marassi Project in Egypt

$17 Billion Cost of Red Sea Marassi Project

                                       

Mohamed Alabbar Reveals Cost of Giant Red Sea Marassi Project in Egypt

Emaar Properties founder Mohamed Alabbar estimated the cost of the Red Sea Marassi project in Egypt at approximately $17 billion. He added during the Reuters Next Summit that Emaar will increase its investments in India, noting that Dubai's real estate supply over the next two years will help balance prices. Alabbar said, "We have not been contacted regarding participation in the reconstruction of Gaza."

Emaar Investments

At the Reuters Next Summit, Alabbar explained that the company intends to increase its investments in India, noting that Dubai's real estate supply over the next two years will help balance prices. He noted that Emaar has not been contacted regarding participation in the reconstruction of Gaza, and the Emaar founder said that prices will be balanced over the next two years.

Gaza Reconstruction Conference

This coincides with President Abdel Fattah El-Sisi's announcement that Egypt will host an international conference in November 2025 to rebuild the Gaza Strip. He called on the Egyptian people to contribute to reconstruction efforts in support of their Palestinian brothers.

National Funding Mechanism

During the 42nd educational symposium marking the 52nd anniversary of the October War, President El-Sisi instructed the Prime Minister to coordinate with civil society institutions and relevant authorities to study the establishment of a national mechanism to collect citizen contributions to finance the reconstruction process.