{"id":100370,"date":"2025-09-08T00:00:00","date_gmt":"2025-09-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/08\/citystars-emaar-misr-to-develop-a-egp-900-bn-marassi-on-egypts-red-sea\/"},"modified":"2025-09-08T00:00:00","modified_gmt":"2025-09-08T00:00:00","slug":"citystars-emaar-misr-to-develop-a-egp-900-bn-marassi-on-egypts-red-sea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/08\/citystars-emaar-misr-to-develop-a-egp-900-bn-marassi-on-egypts-red-sea\/","title":{"rendered":"Citystars, Emaar Misr to develop a EGP 900 bn Marassi on Egypt\u2019s Red Sea"},"content":{"rendered":"

Introducing Marassi Red Sea:<\/strong> Emaar Misr<\/a> and Saudi-owned Citystars Properties<\/a> will develop an EGP 900 bn integrated tourism project on Egypt\u2019s Red Sea \u2014 dubbed Marassi Red Sea \u2014 under a contract inked with the Egyptian 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 Egyptian North Coast, which has become a magnet for mns of visitors and a fixture on the Mediterranean tourism map. <\/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","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":100371,"comment_status":"","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":[2574],"tags":[4489,10,94,31,4488,106,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-emaar-misr","tag-enterpriseam-ksa","tag-hospitality","tag-investment-watch","tag-marassi","tag-real-estate","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"ca5e3b0a-d9c7-4532-af3f-c048d4d1dbe0","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":"Citystars, Emaar Misr to develop a EGP 900 bn Marassi on Egypt\u2019s Red Sea","related_issue":[100363],"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\/.b3491466-34c3-4554-907b-ba833db61889.mp3"},"yoast_head":"\nCitystars, Emaar Misr to develop a EGP 900 bn Marassi on Egypt\u2019s Red Sea - 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