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Egypt announces $19bn Red Sea Marassi project

10 September 2025

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Egyptian developers Emaar Misr and City Stars have launched the £E900bn ($19bn) Red Sea Marassi project on Egypt’s Hurghada coast.

The development spans more than 10 square kilometres (sq km) and is located near Hurghada International airport. It features a 1.5-kilometre beachfront, 400 metres of sea docks, 12 hotels and more than 500 retail facilities.

The masterplan also includes residential areas, schools, hospitals, a convention centre and associated infrastructure.

Emaar Misr is a subsidiary of UAE-based real estate developer Emaar Properties and the Al-Sharbatly Group.

The Red Sea Marassi project is the latest major real estate development to be announced in Egypt recently. Last year, Abu Dhabi-based holding company ADQ launched the estimated $35bn Ras El-Hekma project – a planned new city on the Mediterranean coast.

Ras El-Hekma is located on a spur of land along Egypt’s northern coastline, about 240km west of Alexandria. The greenfield development is planned as a combined business and leisure destination, featuring hotels, recreational facilities, a free zone, a financial district and residential components.

The master development is projected to attract over $150bn in investment.

The project spans approximately 170 million square metres (sq m).

According to an official statement: “The project forms part of a broader strategy to reassess and optimise coastal real estate assets, maximise state revenues and support Egypt's national plan to attract around $42bn in foreign direct investment during the current fiscal year.”

UK-based data analytics firm GlobalData expects Egypt’s construction industry to grow by 4.7% in real terms in 2025, supported by rising net foreign direct investment and increased government spending on real estate, renewable energy, and industrial projects.

According to the Central Bank of Egypt, net foreign direct investment into Egypt rose by 9.3% year-on-year in the first two quarters of the 2024-25 fiscal year.

READ THE SEPTEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF

Doha’s Olympic bid; Kuwait’s progress on crucial reforms reinforces sentiment; Downstream petrochemicals investments take centre stage

Distributed to senior decision-makers in the region and around the world, the September 2025 edition of MEED Business Review includes:
To see previous issues of MEED Business Review, please click here
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Yasir Iqbal

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