What is the total value of construction contracts awarded for Marassi Red Sea Phase 1?

The recent contracts with Rowad Modern Engineering and Innovo Group amount to EGP 14 billion. Including an earlier EGP 5.7 billion contract with Arabian Construction Company, the total value of signed contracts for Phase 1 is approximately EGP 20 billion.

What types of units are being built and when is the handover?

Rowad Modern Engineering will build 675 villas and townhouses, while Innovo Group will construct 220 villas. These units in the first phase are set for handover in 2029.

Where is the Marassi Red Sea project located?

The project is a 2,400-feddan integrated resort located on the Red Sea coast, approximately 30 minutes from Hurghada International Airport in Egypt.

What are some key features of the Marassi Red Sea masterplan?

The masterplan includes 12 luxury hotels, three marinas, over 500 retail and dining outlets, swimmable lagoons, and the Marassi Wonders entertainment zone.

What has been the sales performance for Marassi Red Sea Phase 1?

Sales for Phase 1 of the Marassi Red Sea project have already exceeded EGP 80 billion, and Phase 2 is currently on the market.

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Market·16 September 2026

Emaar Misr Awards EGP 14 Billion in Construction Contracts for Marassi Red Sea Phase 1

Emaar Misr has signed EGP 14 billion in construction contracts with Rowad Modern Engineering and Innovo Group for the first phase of its Marassi Red Sea project in Egypt.

Emaar Misr has awarded EGP 14 billion in construction contracts to Rowad Modern Engineering and Innovo Group, marking a significant step in the development of the Marassi Red Sea project's first phase. These contracts primarily cover the construction of residential units within the luxury resort destination.

Contract Breakdown

Rowad Modern Engineering will be responsible for building 675 villas and townhouses across approximately 150,000 square metres within the Infinity Beach zone. Innovo Group, on the other hand, will construct approximately 220 villas over roughly 100,000 square metres in the Island Living area. Handover for these units from the first phase is anticipated in 2029.

These newly awarded contracts supplement an earlier EGP 5.7 billion agreement with Arabian Construction Company for 32 residential buildings, comprising 750 units, located near the project's marina. This brings the total value of signed contracts for the initial phase to approximately EGP 20 billion.

The Marassi Red Sea Project

The Marassi Red Sea project is an expansive 2,400-feddan integrated resort situated on the Red Sea coast, approximately 30 minutes from Hurghada International Airport. The ambitious development agreement, valued at EGP 900 billion, was signed in September 2025 between Emaar Misr and Saudi-owned Citystars Properties (via its Golden Coast affiliate).

The masterplan for Marassi Red Sea envisions a comprehensive luxury destination, featuring:

12 luxury hotels
Three marinas
Over 500 retail and dining outlets
Swimmable lagoons
The Marassi Wonders entertainment zone

Sales for Phase 1 have already exceeded EGP 80 billion, and Phase 2 units are now available on the market.

Frequently asked

Questions, answered

What is the total value of construction contracts awarded for Marassi Red Sea Phase 1?: The recent contracts with Rowad Modern Engineering and Innovo Group amount to EGP 14 billion. Including an earlier EGP 5.7 billion contract with Arabian Construction Company, the total value of signed contracts for Phase 1 is approximately EGP 20 billion.
What types of units are being built and when is the handover?: Rowad Modern Engineering will build 675 villas and townhouses, while Innovo Group will construct 220 villas. These units in the first phase are set for handover in 2029.
Where is the Marassi Red Sea project located?: The project is a 2,400-feddan integrated resort located on the Red Sea coast, approximately 30 minutes from Hurghada International Airport in Egypt.
What are some key features of the Marassi Red Sea masterplan?: The masterplan includes 12 luxury hotels, three marinas, over 500 retail and dining outlets, swimmable lagoons, and the Marassi Wonders entertainment zone.
What has been the sales performance for Marassi Red Sea Phase 1?: Sales for Phase 1 of the Marassi Red Sea project have already exceeded EGP 80 billion, and Phase 2 is currently on the market.

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This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.

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