Emaar Misr and City Stars have signed partnership agreements with the Egyptian government to launch Marassi Red Sea, the largest tourism project on Egypt’s Red Sea coast, with investments totaling EGP 900bn. The signing ceremony was witnessed by Prime Minister Dr. Mostafa Madbouly at the Cabinet headquarters in the New Capital, in the presence of Housing Minister Eng. Sherif El-Sherbini, Investment and Foreign Trade Minister Eng. Hassan El-Khatib, and Presidential Urban Planning Advisor Gen. Amir Sayed Ahmed, Invest-Gate reports.

The agreements were signed by Mr. Mohamed Alabbar, Founder of Emaar Properties, and Eng. Hassan El-Sharbatly, Vice Chairman of City Stars Group. The project builds on the success of Marassi North Coast, which has become a major Mediterranean destination attracting millions of visitors annually.

Planned for completion within four years, Marassi Red Sea spans 2,426 feddans just 30 minutes from Hurghada International Airport. The development will feature vast waterfronts, extensive green areas, and large-scale water elements. It includes 12 luxury hotels, thousands of rooms, floating cabins inspired by the Maldives, more than 500 retail and dining outlets, and an international-standard marina.

The project also integrates schools, hospitals, a convention center, waterparks, sports facilities, and a mixed-use area called Marassi Wonders. With environmentally conscious landscaping and expansive open spaces, the development emphasizes sustainability and biodiversity while delivering premium hospitality and residential experiences.

Expected to generate between 150,000 and 170,000 direct and indirect jobs during construction, and around 25,000 permanent jobs upon completion, the project will significantly boost Egypt’s tourism economy. Officials emphasized that Marassi Red Sea will transform the Red Sea region into a world-class sustainable destination, reinforcing Egypt’s position on the global tourism and investment map.