Emaar Misr is steadily advancing construction on its flagship “Red Sea Marassi” project as part of its vision to develop an integrated residential and tourism destination along the Red Sea coast. Progress continues seamlessly across all project components, setting the stage for the upcoming launch of new residential, hospitality, and entertainment phases, Invest-Gate reports.
Currently, over 40 international and local consultants alongside five major construction firms are actively working on-site, with land leveling operations for Phase One nearing completion.
Accelerating Execution and Awarding New Contracts
To accelerate development, contracts worth EGP 5.7 billion have been awarded for the Marina buildings within Phase One. This phase encompasses 32 residential and commercial buildings, featuring roughly 750 units across a total built-up area exceeding 100,000 square meters. Deliveries for these buildings are targeted within four years.
Furthermore, Emaar Misr is preparing to award new contracts for a major villa development comprising over 1,000 residential units with a total built-up area of approximately 300,000 square meters. The estimated value of the contracts to be awarded for these villas stands at EGP 18 billion, with completion and delivery scheduled within four years.
Expanding Hospitality and Entertainment Offerings
In the hospitality sector, the development plan features several key launches, including: A luxury boutique hotel, A 5-star hotel strategically located on the Marina front, and An internationally branded hotel.
Together, these properties will offer over 400 hotel rooms and serviced apartments.
The hospitality phase will also feature branded residences, commercial spaces, and beach cabanas, with expected contract values reaching approximately EGP 14.5 billion.
Designed as a holistic lifestyle hub, Red Sea Marassi features premier leisure amenities, including an international marina, a theme park, and a vibrant commercial strip within the marina area, reinforcing its position as a world-class destination blending luxury living, tourism, and entertainment.
According to the master timeline, the residential units, villas, and the first phase of the theme park are slated for delivery within four years