Madbouly: The project is consistent with the state's plan to make use of Egypt's coasts with integrated projects that add new hotel rooms
Dr. Mostafa Madbouly, Prime Minister, stressed in his speech yesterday at the ceremony announcing the launch of the "Il Monte Galala Towers and Marina" project in Ain Sokhna that it is one of the new contributions adding to Egypt's urban development map, as an integrated project implemented on the Red Sea coast that includes a range of integrated activities making it a year-round project, with residential, tourism and commercial activity, as well as conference tourism, a yacht marina and various commercial and entertainment activities.
The Prime Minister noted that this project comes within the targets of Egypt Vision 2030 and the National Urban Development Strategy until 2052, in making use of Egypt's coasts by implementing integrated projects that add new hotel rooms and help achieve the target of reaching 30 million tourists by 2030.
Madbouly said that the signing of this major project is a model of partnership between the private sector, represented by Tatweer Misr, and the Egyptian state, as the state renews its keenness to support and encourage the private sector to move quickly in increasing its share of total investments in Egypt and to be the main driver of all Egyptian economic growth, with the project being a distinguished example of this.
The Prime Minister pointed out that this hall has witnessed the signing of a large number of projects, most of them on the Mediterranean coast, and today witnesses the signing of an important project on the Red Sea coast, which represents a very significant addition, given that Ain Sokhna is known as a destination for short-term tourism of no more than a few days, always linked to the weekend. With this project, however, we are talking about integrated and continuous development throughout the week, throughout the month and indeed throughout the whole year, especially with the presence of Galala City, the giant national project adopted and built by the Egyptian state, as well as the major university established there, the nature of these projects and roads, and the proximity of this place to the New Capital.
Dr. Mostafa Madbouly noted that this project completes the state's integrated vision of focusing on Egypt's coasts by implementing major projects on them, expressing his pleasure at the partnership with global companies to manage and operate these major projects, such as the marina, the conference center, the integrated centers and the hotels. The project represents an integrated vision achieving partnership between the private sector and the state, maximizing the state's benefit from its assets in development projects that create jobs, increase Egypt's national income in hard currency and contribute to the Egyptian state's economic growth.
Madbouly explained that the project is being implemented under the supervision of the Ministry of Housing, Utilities and Urban Communities, praising the role of the Ministry of Tourism and appreciating the role of all officials and bodies participating in the project. He expressed his hope that it will be completed in less than 7 years, saying: "The project is large, with investments of EGP 50 billion and buildings over an area of 470,000 m², but we dream of it being completed as soon as possible, adding a new achievement and a major leap in achieving the Egyptian state's targets in the real estate and tourism development sector," according to the official Facebook page of the Egyptian Cabinet.
