Ibrahim El Missiri, CEO of Somabay Group, said that the Red Sea Coast has become a more attractive destination for international investments, supported by major infrastructure developments, expanding tourism activities, and growing cross border partnership opportunities, Invest-Gate reports.
Participation in Economic Reform Conference
During his participation in the session “Egypt’s Economic Reform Journey: Stability, Growth, and Global Integration,” held as part of the “Egypt Forward: Investment Opportunities and Sustainable Economic Reform” conference organized by the British Egyptian Business Association (BEBA) from 3 to 5 June 2026 in London, El Missiri explained that continuous investments in roads, airports, and tourism infrastructure over the past decade have strengthened the region’s competitiveness and improved its ability to face external challenges and market fluctuations, according to Excellent Communications, the association’s media partner.
Infrastructure Development Driving Growth
He added that the infrastructure development story has witnessed a major transformation, pointing to significant improvements in road networks connecting Cairo with Red Sea tourist destinations, in addition to the planned high speed electric train project, which is expected to improve access to the region and support tourism, real estate, and various economic activities.
Evolution of Somabay Project
He noted that the Somabay project, established in 1991 through Egyptian and international investments, has evolved from a traditional tourism destination into a fully integrated mixed use development that includes hotels, marinas, golf courses, and growing residential communities.
Air Connectivity Supporting Expansion
He pointed out that improved air connectivity has been one of the main drivers of growth, with expanded partnerships with airlines and an increase in international flights arriving at Egyptian tourist destinations. He also highlighted the role of airlines such as EasyJet in opening additional routes to Egypt, while stressing the importance of continuing airport development to maintain the momentum of tourism sector growth.
New Tourism Opportunities
El Missiri explained that growth opportunities are no longer limited to traditional leisure tourism but also extend to promising sectors such as sports tourism and medical tourism. He noted that investment in golf courses, sports facilities, and international training centers helps attract professional sports teams and educational institutions, contributing to extending the tourism season and increasing activity throughout the year.
Medical Tourism Potential
He added that medical tourism represents a significant growth opportunity, supported by Egypt’s medical capabilities, although there is still a need for further development of health insurance systems dedicated to international visitors.
Opportunities for British Companies
Regarding opportunities for British companies, El Missiri confirmed that Egypt’s real estate and tourism sectors are increasingly moving toward structured international partnerships rather than traditional contractor client relationships. He explained that the most successful projects are those implemented through collaborative models that combine expertise in planning, design, procurement, and project execution, allowing both parties to participate throughout all stages of development.
Successful Partnership Models
He added that major projects such as the Four Seasons First Residence in Giza represent a successful example of how Egyptian and international partnerships can combine technical expertise, global supply chains, and investment capabilities to deliver large scale developments.
Egypt Open for Investment and Partnerships
He concluded by emphasizing that Egypt is open to both investment and partnership, noting that British companies possess advanced expertise in design, hospitality, urban development, and project management, which aligns with the next phase of growth in the Egyptian market.
BEBA Mission to the United Kingdom
El Missiri’s statements came alongside the participation of government officials, investors, and business leaders in the British Egyptian Business Association (BEBA) mission to the United Kingdom, held under the theme “Egypt Forward: Investment Opportunities and Sustainable Economic Reform,” at a time when the tourism, real estate, and infrastructure sectors are receiving growing interest from international investors.
Conference to Promote Investment Opportunities
The British Egyptian Business Association (BEBA) is organizing a major conference in London on the readiness of the Egyptian economy to attract investments across different sectors under the theme “Egypt Forward: Investment Opportunities and Sustainable Economic Reform,” with the aim of promoting investment opportunities in Egypt and highlighting the ongoing economic reform program.
High Level Government Participation
The conference is being held with the participation of a high level government delegation that includes Ahmed Kouchouk, Minister of Finance; Eng. Randa El Menshawy, Minister of Housing, Utilities and Urban Communities; and Rami Abou El Naga, Deputy Governor of the Central Bank of Egypt. The event is attended by leading investors, business leaders, decision-makers, government officials, and leaders of financial and investment institutions from Egypt and the United Kingdom, as part of efforts to strengthen economic partnership and promote the promising investment opportunities offered by the Egyptian economy.
Strengthening Economic Cooperation
The event includes a series of meetings and discussion sessions aimed at strengthening trade relations between the two countries and encouraging new investment partnerships in key economic sectors.
Egypt’s Ongoing Investment Attraction Efforts
This mission comes at a time when Egypt continues its efforts to attract more foreign direct investment and deepen economic cooperation with international partners as part of a broader framework to support economic growth, strengthen the role of the private sector, and enhance the competitiveness of the Egyptian economy.