Port Ghalib Resort Company, a subsidiary of Kuwait’s M.A. Kharafi Group, has signed a hotel management deal with Mövenpick Hotels & Resorts for a new hotel on the western coast of the Red Sea, Invest-Gate reports.

The deal, under which Mövenpick will manage and operate the new hotel, comes in line with the resort development plan and the company’s strategy to expand its portfolio of tourism assets. 

Hossam F. Al-Kharafi, chairman at the group’s investment arm Mak Investment Holding, said that the development of Port Ghalib city aims to make it a leading global tourism destination on the Red Sea.

Extending over an area of 30 mn square meters, the Port Ghalib development project is being developed over three phases, with total investments of up to USD 2 bn (EGP 31.26 bn).

Port Ghalib features six world-class hotels, residential areas, and a 1,000-yacht marina, in addition to a service district that comprises a hospital, banks, a school, a mosque, commercial retail, and gardens. The project encompasses other utilities such as a 30-megawatt power station, a water desalination station with a total capacity of 3,000 cubic meters, a sewage station, in addition to a central conditioning system.