Egypt aims to increase tourist arrivals to around 30 million by 2030, up from roughly 19 million recorded by the tourism ministry in 2025, Reuters reported, as it announced a major new Red Sea development.

The "Monte Galala Towers and Marina" project, covering 470,000 square metres on the Gulf of Suez about 35 km south of Ain Sokhna, will feature ten towers combining hotel, marina, and residential facilities, according to Ahmed Shalaby, managing director of Tatweer Misr, the main developer.

The initiative is a joint effort with the housing ministry and other state bodies, including the armed forces' engineering authority. Shalaby said the development is expected to cost approximately 50 billion Egyptian pounds (1.07 billion US dollars).

Construction is scheduled to begin in the second half of this year and is planned to continue over seven years, he added. The cabinet also officially announced the project as part of the country’s strategy to strengthen the tourism sector.