Emaar, Citystars Sign Deal to Develop Resort on Egypt’s Red Sea

Emaar Misr and Citystars Properties have recently finalized a significant agreement to create a new resort on Egypt’s Red Sea coast. This deal, valued at 900 billion pounds ($18.5 billion), highlights the continued interest of Gulf investors in the North African nation. The development, named Mara, is set to become a prominent destination for luxury tourism in the region. With this partnership, both companies aim to establish a world-class resort that seamlessly blends modern amenities with the natural beauty of the Red Sea. This collaboration represents a major investment in Egypt’s tourism sector and is expected to bolster the country’s appeal among international travelers. By leveraging the expertise of Emaar Misr and Citystars Properties, the project is poised to set new standards for upscale hospitality in the region. The strategic location of the resort, combined with the reputation of the developers, positions Mara as a premier destination for discerning travelers seeking luxury experiences on Egypt’s picturesque Red Sea coast.