The Il Monte Galala Towers and Marina project, developed by Tatweer Misr at an estimated cost of EGP 50 billion (USD 1.07 billion), stands as a reflection of the government’s broader effort to expand the role of the private sector in driving economic growth, Prime Minister Mostafa Madbouly said during its launch ceremony on 9 February held at the New Administrative Capital. “This project is a model for partnership between the state and private enterprise, aligning with Egypt’s Vision 2030 to expand urban development and reach 30 million tourists annually,” he added. Unveiled in Ain Sokhna on 9 February, the project represents a notable advance in Egypt’s broader drive to reposition the Red Sea shoreline as a destination for investment throughout the year. The plan calls for roughly 470,000 square meters of built-up space, anchored by 10 mixed-use towers and around 2,600 residential and hotel units. An international marina, with capacity for more than 150 yachts, forms a key component. Unlike the largely seasonal resorts that have long defined Ain Sokhna, Il Monte Galala is designed to function throughout the year, an ambition supported in part by its proximity to…
