Egypt signed new agreements on Monday, 9 February 2026, to advance the Monte Galala Towers and Marina project in Ain Sokhna. The development has an estimated value of 50 billion Egyptian pounds ($1 billion USD) and involves international partners in marina operations, hospitality and technology systems.
The project includes a marina planned to accommodate more than 150 vessels, along with ten mixed-use towers with around 2,600 residential and hotel units. It also features an exhibition and conference centre covering about 2.8 hectares, while the overall development spans roughly 47 hectares of built-up space on a site of around 28 hectares.
The agreements were signed between developer Tatweer Misr and three international companies. IGY Marinas will manage the marina, while BCI Realty of the United Kingdom will operate the exhibition and conference centre.
France’s Schneider Electric will be responsible for the smart systems, energy efficiency and sustainability-related infrastructure across the project. Hotels and serviced apartments within the development will be operated by Marriott International under a previously signed agreement.
“This project exemplifies integration between government vision and private-sector execution. It positions Ain Sokhna as a premier hub for yacht tourism, conferences and exhibitions, while promoting sustainable investment,” said Ahmed Shalaby, CEO of Tawteen Misr.
Tatweer Misr has also mentioned the involvement of international firms in planning and infrastructure work, including Gianluca Peluffo & Partners for architectural planning, Crystal Lagoons for lagoon elements and Orange Egypt for digital infrastructure.
Construction is scheduled to begin in the second half of 2026, with completion expected within seven years. The project aligns with Egypt’s wider plans for the Red Sea coast, which aim to support tourism activity throughout the year, create employment and attract foreign investment.
Images courtesy of Tatweer Misr.
