At a meeting on 26 April 2026, president Abdel Fattah El-Sisi approved phase two of the Il Monte Galala project after reviewing progress in Galala City and plans for the next stage in Ain Sokhna.
The meeting was attended by the commander-in-chief of the armed forces and minister of defence and military production lieutenant general Ashraf Salem Zaher, presidential advisor for urban planning major general Amir Sayed Ahmed, presidential advisor for financial affairs lieutenant general Ahmed El-Shazly, head of the national authority for management and investment major general Mahmoud Rizq and president and CEO of Tatweer Misr, Dr. Ahmed Shalaby.
According to presidential spokesman ambassador Mohamed El-Shennawy, the discussion covered the development plan for Galala City over the next four years, including preparations for the city’s operation and updates on current projects.
The second phase of Il Monte Galala was approved in concept for implementation with private sector partners, with plans including a service marina with floating docks, tourist residential towers located directly on the Red Sea coast, as well as hotels and economic, medical and educational facilities.
In February 2026, agreements were signed to support the Il Monte Galala project, valued at approximately 50 billion Egyptian pounds ($1 billion USD). The deals include international partners across marina operations, hospitality and technology systems, with IGY Marinas set to manage the marina and BCI Realty to operate the exhibition and conference centre.
