Ahmed Shalaby: Work to begin in the second half of 2026.. with implementation over 7 years
The project is inspired by the Italian town of Portofino
Dr. Ahmed Shalaby, CEO and Managing Director of Tatweer Misr, revealed that the expected investment cost of the "Il Monte Galala Towers and Marina" project in Ain Sokhna reaches EGP 50 billion, equivalent to about USD 1 billion. It is built on a total area of about 470,000 m² and includes 10 mixed-use towers with a total area of 280,000 m², comprising about 2,600 residential and hotel units. He announced that the project is scheduled to be implemented over 7 years, with construction work beginning in the second half of this year (2026), to be a new economic engine for development in the region.
This came in his speech during the ceremony held today at the Cabinet headquarters in the New Capital, attended by Dr. Mostafa Madbouly, Prime Minister, to announce the launch of the "Il Monte Galala Towers and Marina" project in Ain Sokhna.
He added that the project includes an international marina with capacity for more than 150 yachts, an exhibition and conference center covering 28,000 m², and commercial and entertainment areas, all operating within a single system supporting tourism and investment in the area.
He stressed that this project is not merely a new urban addition but reflects an advanced model of integration between the vision of the Egyptian state and the role of the private sector as an active partner in implementing it, in order to develop the Ain Sokhna area and turn it into a global destination for conference and yacht tourism and an active economic and tourism hub on the Red Sea coast.
Dr. Ahmed Shalaby said: "Today, in the presence of the Prime Minister and with the participation of representatives of state institutions and our private sector partners, we officially announce the launch of Il Monte Galala Towers and Marina." He pointed out that this launch is not merely the opening of a new project but embodies the completion of an integrated development path that began in 2014, whose vision took shape in 2017, and which today, in 2026, becomes a new step on the road to building a more competitive and sustainable urban and tourism future.
Shalaby noted that the project launched today represents the waterfront of Galala City, the New Capital and Cairo, to be a key pillar of the regional development system and a catalyst for strategic investments supporting long-term economic growth, within an integrated framework based on sustainability and maximizing the economic value of the Red Sea coast.
Shalaby pointed out that since Tatweer Misr was founded in 2014, the vision has been clear, aiming to build sustainable and smart urban communities that integrate with the state's directions for comprehensive urban development, adding that over more than 11 years, work has been done to translate this vision into real projects in the most important strategic areas, from Ain Sokhna to the North Coast and East and West Cairo.
The CEO and Managing Director of Tatweer Misr noted that since 2014 the company began preparing to launch the Il Monte Galala project in the heart of the Galala Mountains, with a vision aimed at turning this area from limited seasonal activity into an integrated community operating all year round, explaining that the choice of location was carefully studied to integrate with Galala City and be close to the Suez Canal axis and the New Capital, within the state's plan to develop eastern Egypt.
On the project's architectural identity and distinction, Dr. Ahmed Shalaby explained that the project features architectural designs inspired by the Italian town of Portofino, carved into the mountain at different levels, with international partner Gianluca Peluffo & Partners taking part in shaping the project's architectural vision. This vision is completed by the creation of the world's first "Crystal Lagoons" lagoon built on a mountaintop, as an unprecedented iconic element strengthening the project's international uniqueness.
He said that in 2017, during the participation of a delegation of Egyptian real estate developers in the MIPIM exhibition in Cannes, France, accompanied by Dr. Mostafa Madbouly, then Minister of Housing, "we saw different models of coastal cities that operate all year round, supported by conference tourism, international exhibitions and yacht tourism, creating continuous economic activity."
He added that since then the vision has expanded, and the goal is no longer merely a distinguished real estate project, but for Il Monte Galala and Ain Sokhna to become a major economic engine serving Galala City and integrating with the New Capital and Cairo.
International Partnerships
In this context, the head of Tatweer Misr noted that this vision has become a reality through an organized institutional framework implemented in light of presidential directives and in full coordination with the Ministry of Defense, represented by the Armed Forces Engineering Authority, ensuring executive discipline and commitment to the highest approved technical quality standards. He pointed in this regard to strategic international partnerships with major global brands and expertise in hospitality, marina operation and management, and technology and sustainability, to transfer the best international practices to the Egyptian market, in cooperation with America's Marriott International for hotel operation, America's IGY Marinas as adviser for marina management and operation, Britain's BCI Realty for managing and operating the exhibition and conference center, and France's Schneider Electric as technology partner supporting smart infrastructure, energy efficiency and sustainability, within an integrated system of international expertise ensuring a project that operates efficiently and achieves sustainable value all year round, according to the official Facebook page of the Egyptian Cabinet.
