Emaar Misr inaugurates the first international marina on the North Coast, the “Marassi Marina and Yacht Club” in Marassi, Invest-Gate reports.

The Marassi Marina and Yacht Club covers 1.16 mn sqm, with investments of approx. USD 24.2 bn. The new port is to hold up to 267 yachts measuring from 12 to 155 m long. It also includes five international-standard hotels and many international services, according to Emaar Misr press release.

Furthermore, the project comprises over 2,500 residential units and 134 commercial plots, creating over 180,000 job opportunities. Besides, it also features four international hotels, The Address Marassi Beach Resort and Vida Marassi Marina hotels, which are currently under construction.

Emaar Misr signed an agreement with the world-renowned Montenegro Port Yacht Club to operate its Marassi Marina  and Yacht Club, “offering its club members the ability to enjoy the facilities and amenities of the Montenegro port, and also allowing members of the Montenegro Yacht Club to enjoy Marassi Yacht Club’s top-notch facilities”, the official statement confirms.

“This yacht club and marina project aligns with the Egyptian government’s efforts to make the North Coast an all-year destination, not just a summer hot spot. That is why we were adamant that we built Marassi Marina and Yacht Club to compete with those international ones of the Mediterranean, encouraging yacht owners to visit Egypt’s North Coast more often. This would invariably translate to more opportunities in this vital and pristine location,” Emaar Misr Founder Mohamed Al Abbar comments.