Egypt launches LE 900 B Red Sea Marassi project to transform Hurghada into global destination
Egyptโs Prime Minister Mostafa Madbouly witnessed the signing of partnership agreements between Emaar Misr and City Stars to launch Red Sea Marassi on the Hurghada coast. With an investment envelope estimated at LE 900 billion, the project is positioned to elevate Hurghada as a premier global hub for tourism, living, and investment on the Red Sea.
Location & scale
Set about 30 minutes from Hurghada International Airport, Red Sea Marassi spans 2,426 feddans (โ 10.2 kmยฒ / ~2,518 acres). The master plan leverages the natural assets of Hurghadaโs shoreline to deliver a destination on par with the regionโs top coastal cities.
Master plan highlights
- Waterfront & mobility: 1.5 km seafront with a private beach, swimmable lagoons, internal waterways, and ~400 m of sea docks.
- Marina: An internationalโstandard marina designed to attract yachting tourism to Hurghada.
- Hospitality: 12 luxury hotels plus Maldivesโstyle floating cabins for overโwater stays.
- Retail & dining: 500+ waterfront shops and restaurants activating the promenade day and night.
- Social infrastructure: Schools, hospitals, and an international convention center embedded within the urban fabric.
- Leisure & sport: A broad mix of sports and entertainment facilities to sustain allโseason demand.
Economic & market impact for Hurghada
The project is expected to create 150,000โ170,000 direct and indirect jobs across construction, hospitality, and retail, alongside ~25,000 permanent positions once operations stabilize. The ripple effects extend to Hurghada Airport, Safaga Port, logistics, and supporting agricultural and services ecosystemsโbroadening Hurghadaโs economic base well beyond seasonal tourism.
Governance & investment climate
As part of the rollout, the Egyptian government formed a committee to survey Red Sea coastal lands in preparation for new investment regulations. This is aligned with a broader national strategy to optimize coastal realโestate assets, maximize state revenues, and support an FDI target of ~$42 billion in the current fiscal yearโreinforcing Hurghadaโs attractiveness to international capital.
Why this matters for Hurghada real estate
- Demand expansion: A diversified resident and visitor mix strengthens yearโround absorption in Hurghadaโs residential and hospitality segments.
- Premiumization: Waterfront addresses anchored by a marina, lagoons, and luxury hotels typically command premium pricing and set new benchmarks for product standards.
- Lifestyle ecosystem: Schools, healthcare, convention facilities, and sports infrastructure encourage longer stays and permanent residencyโkey to Hurghadaโs longโterm stability.
Inspired by Marassi North Coastโadapted for the Red Sea
Red Sea Marassi draws on the Marassi North Coast playbookโan integrated, highโamenity waterfront model that has attracted millions of visitors in just a few yearsโwhile tailoring the experience to the unique climate, waters, and yearโround tourism profile of Hurghada.
Quick facts: Red Sea Marassi, Hurghada
- Developers: Emaar Misr & City Stars; collaboration with AlโSharbatly Group
- Investment: ~LE 900 billion
- Area: 2,426 feddans (~10.2 kmยฒ / ~2,518 acres)
- Access: ~30 minutes to Hurghada International Airport
- Waterfront: 1.5 km seafront, private beach, swimmable lagoons, 400 m sea docks
- Marina: International standard
- Hospitality: 12 luxury hotels + Maldivesโstyle floating cabins
- Retail & F&B: 500+ waterfront shops and restaurants
- Community: Schools, hospitals, international convention center, sports & entertainment
- Jobs: 150kโ170k during development; ~25k permanent
- Policy backdrop: Coastal land survey & forthcoming investment regulations; part of ~$42B FDI strategy
Whatโs next
Project phasing, sales releases, and delivery timelines will be announced by the developers. Given the projectโs scale and integrated services, Hurghada stakeholdersโbuyers, renters, and business operatorsโshould expect staged rollouts aligned with infrastructure and hospitality openings.
