Emaar, Citystars Sign $18.6B Deal for Luxury Red Sea Resort in Egypt

Cairo, Egypt - September 8, 2025 - Egypt has officially signed a landmark partnership agreement with Emaar Misr and Citystars Group to develop Marassi Red Sea, a massive $18.6 billion tourism project set to transform the country’s Red Sea coast. The announcement was made by Egypt’s Prime Minister’s Office following the signing ceremony, which took place at the government’s headquarters in the New Administrative Capital.

The deal was signed by Mohamed Alabbar, founder of Emaar Properties, and Hassan Sharbatly, vice chairman of Citystars Group. Egyptian Prime Minister Mostafa Madbouly attended the ceremony, highlighting the government’s commitment to positioning the Red Sea region as a world-class tourism destination.

Strategic Location and Scope

The Marassi Red Sea project will span 10.2 square kilometers, located just 30 minutes from Hurghada Airport. Construction is expected to take four years, with the resort designed to rival the most prestigious global destinations.

The project follows the model of Emaar’s highly successful Marassi resort on Egypt’s North Coast and aligns with the country’s broader tourism initiatives, including the Jirian project, to bolster economic growth and international tourism appeal.

Officials confirmed that the partnership was made possible after a successful settlement with state agencies, which extended land use rights and paved the way for Emaar to take on the role of lead developer.

World-Class Facilities

Marassi Red Sea will feature a vast waterfront, complete with a private beach and swimmable lagoons, alongside a world-class marina. A centerpiece of the project will be a 1.5-kilometre-long, 10-metre-high elevated “infinity” beach, offering visitors an unparalleled coastal experience.

The development will include:

• 12 luxury hotels with international hospitality brands
• Floating Maldives-style cabanas
• 500+ retail and dining outlets overlooking the waterfront
• Schools and hospitals to support the growing community

The “Marassi Wonders” zone will serve as a multi-use destination featuring an international conference centre, commercial spaces, a water park, and world-class sports facilities. Extensive green spaces and a comprehensive tree-planting program will further enhance the project’s sustainability and environmental footprint.

Economic Impact and Job Creation

The development is projected to generate 150,000 to 170,000 direct and indirect jobs during the construction phase, spanning sectors such as construction, hospitality, and retail.

Once operational, 25,000 full-time positions will be created to support ongoing resort activities. The project is also expected to stimulate surrounding industries, including Hurghada Airport, Safaga Port, agriculture, and logistics.

Transforming Egypt’s Tourism Sector

Egyptian officials described Marassi Red Sea as a game-changer for the region, combining luxury tourism with economic growth opportunities. The project will play a key role in elevating Egypt’s global tourism standing while fostering sustainable development in one of the country’s most strategically important coastal areas.

With its scale and ambition, Marassi Red Sea represents a major step forward in Egypt’s long-term vision for tourism and economic diversification.