Arab Finance: Gulf Egypt for Hotels and Tourism, a subsidiary of United Real Estate Company, has launched a landmark integrated lifestyle hospitality destination in Sharm El Sheikh, with planned investments exceeding EGP 20 billion, according to a press release.
The project marks a new model of collaboration designed to strengthen the country’s tourism sector, attract high-value investments, and contribute to the objectives of Egypt Vision 2030 by advancing integrated hospitality destinations and fostering long-term sector growth.
Spanning around 354,458 square meters and featuring nearly 750 meters of rare natural sandy beachfront and a prime location just minutes from Sharm El Sheikh International Airport and within proximity to the city’s conference and event facilities.
The launch was marked by the signing of a cooperation protocol between Gulf Egypt and Al Montazah Tourism & Investment Company, under the support of the Presidency of Egypt and the Tourism Development Authority (TDA).
Gulf Egypt acquired the project land from Al Montazah following an extensive evaluation and planning process aligned with its long-term development strategy.
For his part, Major General Sameh Shoaib commented: “Our collaboration with a leading company the size of Gulf Egypt reflects a shared desire to shape new horizons for tourism development in Sharm El Sheikh. We are proud to contribute to this ambitious project by offering every possible form of support that ensure the development of an integrated tourism infrastructure that meets the aspirations of investors and visitors and drives the sector’s growth rates forward.”
Gulf Egypt also signed agreements with HVS and JLL to conduct feasibility studies and support the project’s integrated master planning, development strategy, and specialized studies, ensuring the destination is developed in line with international best standards and practices.
In this context, Tarek Elshazly expressed the strategic significance of this expansion, saying: “Our partnerships today with global leaders in the sector are the cornerstone through which we guarantee exceptional operational and planning standards befitting Egypt’s status as a leading tourism destination.”
Hala Matar Choufany, President of HVS Middle East, Africa and South Asia, stated: “HVS is proud to support Gulf Egypt in a project of this scale, ambition, and long-term vision. Sharm El Sheikh continues to demonstrate strong hospitality fundamentals and global leisure appeal, and we are witnessing growing confidence from investors and operators in the future of this destination.”
