CAIRO — Tatweer Misr has appointed IGY Marinas as long-term operator of IL Monte Galala Marina at Ain Sokhna, expanding an earlier advisory mandate into operational responsibility for a $44mn Red Sea asset targeting higher-value yacht traffic.
The marina will provide more than 150 berths for yachts of about 10-80 metres, including two berths capable of accommodating vessels of up to 80 metres.
It forms part of Tatweer Misr’s wider IL Monte Galala Marina Towers development, valued by the company at about EGP50bn, or roughly $1bn. The scheme is planned to include 10 towers, around 2,600 residential and hotel units and a 28,000-square-metre exhibition and conference centre.
IGY was appointed marina operations adviser earlier in 2026 before the relationship was expanded under the long-term operating agreement signed during the Monaco Yacht Show.
The appointment strengthens Tatweer Misr’s attempt to position IL Monte Galala as a tourism and marine-services destination rather than solely a waterfront real-estate project.
The commercial test will be berth occupancy and foreign yacht traffic: sustained calls by larger vessels could generate recurring berthing, marine-services, hospitality and visitor spending, monetising Egypt’s position on the Mediterranean-Suez-Red Sea corridor.
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