{"id":671440,"date":"2025-09-08T00:00:00","date_gmt":"2025-09-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/08\/emaar-misr-citystars-to-develop-a-egp-900-bn-marassi-on-the-red-sea\/"},"modified":"2025-09-08T00:00:00","modified_gmt":"2025-09-08T00:00:00","slug":"emaar-misr-citystars-to-develop-a-egp-900-bn-marassi-on-the-red-sea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/08\/emaar-misr-citystars-to-develop-a-egp-900-bn-marassi-on-the-red-sea\/","title":{"rendered":"Emaar Misr, Citystars to develop a EGP 900 bn Marassi on the Red Sea"},"content":{"rendered":"

Introducing Marassi Red Sea:<\/strong> Emaar Misr<\/a> and Saudi-owned real estate developer Citystars Properties<\/a> will develop an EGP 900 bn integrated tourism project on the Red Sea \u2014 dubbed Marassi Red Sea \u2014 under a contract inked with the Madbouly government, according to a cabinet statement<\/a>. The development is slated for completion in four years, aiming to boost the Red Sea\u2019s status as a global tourism destination.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Think Marassi North Coast \u2014 but on the Red Sea:<\/strong> The new project is modeled after Emaar\u2019s flagship Marassi in the North Coast, which has become a magnet for mns of visitors and a fixture on the Mediterranean tourism map. The government hopes to replicate that success in the Red Sea, positioning the area as a year-round global destination.<\/p>\n

Here\u2019s what you can expect from the development:<\/strong> The 2.4k-feddan development is located 30 minutes from Hurghada International Airport and will include 12 luxury hotels, thousands of hotel rooms and residential units, and more than 500 waterfront shops and restaurants. The project will also include a world-class marina, private beaches, and boutique marinas.<\/p>\n

A lot more than just a summer destination:<\/strong> The development will house an international conference center, schools, hospitals, sports and leisure facilities, and the Marassi Wonders entertainment zone, which will include a waterpark and sports clubs. The project is expected to generate USD 200 mn in annual revenues, Emaar Misr chairman Jamal Bin Theniyah said<\/a>. <\/p>\n

Who owns what? <\/strong>Emaar Misr will hold 50% of the project and Citystars will own the other half, Emaar Properties founder Mohamed Alabbar told<\/a> reporters. <\/p>\n

The project will create 150k-170k direct and indirect jobs <\/strong>during construction. Once it officially opens its doors, the project is expected to employ 25k people.<\/p>\n

We had an idea this was coming: <\/strong>Sources told Asharq Business in June<\/a> that Emaar Misr was developing a 10 mn sqm integrated Red Sea tourism project in partnership with Citystars on a Citystars-owned plot. At the time, it was reported that the project will generate over EGP 500 bn in revenues once completed.<\/p>\n

More to come? <\/strong>\u201cWe will see more projects in this promising area and we look forward to announcing them soon,\u201d Prime Minister Moustafa Madbouly said<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The four-year, 2.4k-feddan development near Hurghada will mirror Marassi North Coast<\/p>\n","protected":false},"author":1,"featured_media":671441,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[1527,72,955,125,3399,83,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-671440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-emaar-misr","tag-enterpriseam","tag-hospitality","tag-investment-watch","tag-marassi","tag-real-estate","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"cf61b428-c1ee-4d32-a298-433546fd47da","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/378.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emaar Misr, Citystars to develop a EGP 900 bn Marassi on the Red Sea","related_issue":[671435],"teaser":"The four-year, 2.4k-feddan development near Hurghada will mirror Marassi North Coast","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.ab1f1e6d-23a3-4f89-9564-bd1508ca4fa2.mp3"},"yoast_head":"\nEmaar Misr, Citystars to develop a EGP 900 bn Marassi on the Red Sea - 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The first court hearing for\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593205,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/20\/arabtec-construction-tapped-to-construct-emaar-misr-project-on-egypts-north-coast\/","url_meta":{"origin":671440,"position":1},"title":"Arabtec Construction tapped to construct Emaar Misr project on Egypt\u2019s north coast","author":"enterpriseam admin","date":"20 November 2019","format":false,"excerpt":"Emaar Misr has awarded a AED 366 mn contract to Arabtec Construction to construct several residential units in the Greek Village, one of the areas in Emaar\u2019s Marassi compound on Egypt\u2019s north coast, Arabtec said in a DFM disclosure (pdf). Construction is scheduled to take 36 months to complete.","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573561,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/earnings-watch-emaar-misr-turns-a-profit-in-2q2020\/","url_meta":{"origin":671440,"position":2},"title":"Earnings watch: Emaar Misr turns a profit in 2Q2020","author":"enterpriseam admin","date":"10 August 2020","format":false,"excerpt":"EARNINGS WATCH- Emaar Misr recorded a net profit of EGP 366 mn 2Q2020, up from a net loss of EGP 324 mn in the same period last year, according to the company\u2019s quarterly financial statements (pdf). This came despite revenue falling 13% to EGP 771 mn during the quarter. Net\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634300,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/emaar-signs-egp-2-bn-marassi-marina-contracts-with-oci-acc\/","url_meta":{"origin":671440,"position":3},"title":"Emaar signs EGP 2 bn Marassi Marina contracts with OCI, ACC","author":"enterpriseam admin","date":"11 January 2018","format":false,"excerpt":"Emaar signs EGP 2 bn Marassi Marina contracts with OCI, ACC: Emaar Misr signed construction contracts with Arabian Construction Company (ACC) and Orascom Construction Industries (OCI) valued at EGP 2 bn for the first phase of its Marassi Marina project on the North Coast, according to a regulatory filing (pdf).\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":674994,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/06\/emaar-misr-ksas-dallah-albaraka-to-develop-egp-78-bn-new-cairo-project\/","url_meta":{"origin":671440,"position":4},"title":"Emaar Misr, KSA\u2019s Dallah Albaraka to develop EGP 78 bn New Cairo project","author":"enterpriseam admin","date":"6 November 2025","format":false,"excerpt":"The project will span 380 feddans and generate some EGP 117 bn in revenues","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1091.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666878,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/16\/emaar-misr-to-develop-tourism-project-on-the-red-sea-alongside-saudi-owned-citystars-properties-plus-madinet-masr-inks-ksa-expansion-mou-saudi-investor-eyes-piece-of-dreamland\/","url_meta":{"origin":671440,"position":5},"title":"Emaar Misr to develop tourism project on the Red Sea alongside Saudi-owned Citystars Properties. 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