Dr. Mostafa Madbouly, Prime Minister, attended the announcement of the launch of the "Il Monte Galala Towers and Marina" project in Ain Sokhna, with investments of about EGP 50 billion, at a ceremony at the Cabinet headquarters in the New Administrative Capital to inaugurate this project, which represents a qualitative addition to urban development projects on the Red Sea coast.
During the launch ceremony, officials from Tatweer Misr, the main developer of the "Il Monte Galala Towers and Marina" project, reviewed its integrated master plan, and the project's local and international strategic partners will also be announced.
Counsellor Mohamed El-Homsany, the official spokesman for the Cabinet, said that the "Il Monte Galala Towers and Marina" project is based on a system of strategic international partnerships with major global companies in hospitality, yacht marina operation and management, international conferences and exhibitions, architectural planning and technology, ensuring the transfer of the best international practices to the Egyptian market, raising the efficiency of implementation and operation and strengthening the project's competitiveness at regional and international levels.
The Cabinet spokesman added that the project reflects a practical model of integrated roles between state institutions and the private sector, supporting the efficient implementation of national projects and strengthening the achievement of their development and economic targets.
El-Homsany noted that the "Il Monte Galala Towers and Marina" project represents a strategic maritime gateway on the Red Sea coast, and that it will be developed as an integrated urban destination combining a marina, hospitality, housing, tourism and commercial activities, and exhibitions and conferences, consolidating the model of coastal cities that do not rely only on seasonal activity but operate efficiently all year round.
El-Homsany continued: "The diversity of activities in the project helps achieve continuous operation, supports the creation of direct and indirect jobs, and strengthens conference, exhibition and yacht tourism, supporting the stability of economic activity on the Red Sea."
He explained that the project provides an organized, low-risk investment environment that supports attracting qualitative long-term investments and maximizes the economic return from strategic sites.
The ceremony was attended by Eng. Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities; Major General Amir Sayed Ahmed, Advisor to the President for Urban Planning; Major General Walid Aref, Head of the Armed Forces Engineering Authority; Major General Osama Abdel Sattar, Head of the Armed Forces Land Projects Agency; Colonel Dr. Bahaa El-Ghannam, Head of the Future of Egypt Agency for Sustainable Development; Dr. Walid Abbas, First Deputy Head of the New Urban Communities Authority and Assistant Minister of Housing; Dr. Mostafa Mounir, Head of the Tourism Development Authority; Dr. Ahmed Shalaby, CEO and Managing Director of Tatweer Misr, the project's main developer; representatives of the implementing companies; and representatives of local and international media, according to the official Facebook page of the Egyptian Cabinet.
