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Emirati Investor Plans Al-Jufayra Development
Egypt is moving forward with the development of a massive tourism project in the Jufayra area along the North Coast. The plan involves awarding a land plot to an Emirati investor in a partnership agreement worth approximately 135 billion Egyptian pounds (around $2.7 billion). The government will pay for the land over six years, as the project—including a variety of units such as chalets, villas, twin houses, and townhouses—is developed on an estimated area of 642 acres with direct views of the Mediterranean Sea. The project is expected to generate government revenues amounting to between 20% and 30%, in addition to an in-kind share of hotel units. The deal is scheduled to be finalized before the end of 2026, with legal procedures and final contract arrangements ongoing. This project is among the most prominent tourism development initiatives in the North Coast, leveraging its strategic location on the Alexandria-Matrouh Road, near Marsa Matrouh and the tourist areas of Ras Al-Hikma. It is designed to combine luxurious accommodations with entertainment services, featuring open spaces and attractive sea views across an area reaching up to 1,300 acres along a 3.6-kilometer beach frontage.
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