The project, located on the Red Sea coast, is designed as an integrated urban destination combining residential, hospitality, tourism, commercial, and marina components, as part of Egypt’s push for year-round coastal development.
The launch ceremony, hosted by the cabinet at the New Capital, was attended by Housing Minister Sherif El-Sherbiny, senior government and military officials, and private-sector representatives, including Ahmed Shalaby, CEO and Managing Director of Tatweer Misr, the project’s master developer.
Tatweer Misr officials presented the project’s master plan and announced its local and international partners. Cabinet spokesperson Mohamed El-Homsany said the development is based on partnerships with global firms specializing in hospitality, yacht marina management, conferences and exhibitions, architectural planning, and technology.
El-Homsany said the project reflects expanding cooperation between state institutions and the private sector and aims to support the execution of large national developments. He described Il Mont Galala Towers and Marina as a year-round maritime gateway on the Red Sea, rather than a seasonal tourism project.
The development is expected to generate direct and indirect employment and boost conference, exhibition, and yacht tourism, contributing to economic activity along the Red Sea coast.
El-Homsany added that the project is intended to offer a regulated, low-risk investment environment aimed at attracting long-term capital and maximising returns from strategically located coastal assets.
Egypt’s coastal regions have drawn growing Gulf investment interest in recent years, including along the Mediterranean and Red Sea shores.
In September 2025, a UAE-Saudi development valued at $18 billion was launched on the Red Sea, targeting tourism and investment growth. Two months later, Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, announced a $29.7 billion partnership to develop a major project on Egypt’s Mediterranean coast.
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