Egypt has formalised three strategic partnerships to drive forward the Mont Galala Towers and Marina Project in Ain Sokhna. The $1 billion development on the Red Sea coast reached this milestone on Monday 9 February 2026. Developer Tawteen Misr signed deals with several global entities to manage various sectors of the site. A Cabinet statement confirmed that US-based IGY Marinas will oversee the marina operations while the UK firm BCI Realty is set to run the exhibition and conference centre. Additionally, Schneider Electric from France will implement the smart infrastructure and sustainability systems for the project.

These new partners join Marriott International which is already contracted to manage the hotels and serviced apartments. The project includes 10 mixed-use towers providing approximately 2,600 residential and hotel units. The site will also host a marina with space for 150 yachts and a 28,000 square metre conference centre. Construction work is scheduled to start in the second half of 2026. The developers expect the entire project to be finished within seven years.

“The project is built on integrated planning, mixed-use design, and long-term sustainability,” Prime Minister Mostafa Madbouly said. “It will create both direct and indirect jobs while boosting specialized tourism, including conferences, exhibitions, and yacht tourism, maximizing the region’s economic and tourism potential.”

The development covers a 280,000 square metre site with a total built-up area of 470,000 square metres. Ahmed Shalaby, CEO of Tawteen Misr, noted that the project combines government vision with private-sector execution. “This project exemplifies integration between government vision and private-sector execution,” Shalaby said. “It positions Ain Sokhna as a premier hub for yacht tourism, conferences, and exhibitions, while promoting sustainable investment.”

Other specialist firms involved include Gianluca Peluffo & Partners for architectural planning and Crystal Lagoons for artificial water features. Orange Egypt will provide the digital infrastructure. The scheme forms a central part of the national strategy to develop the Red Sea as a year-round destination for international investment and tourism.