Emaar Misr has inaugurated the first international marina on the North Coast “Marassi Marina and Yacht Club” inside Marassi. The port is the most significant touristic marina on the southern border of the Mediterranean Sea, covering 1.16 million square metres.
Attending the event were Mohamed Al-Abbar, Emaar Misr founder and a number of several high profile personalities.
This $24.2 billion project is a standout addition to Emaar Misr’s investment portfolio in Egypt, featuring many unique features.
The port can hold up to 267 yachts measuring from 12 to 155 metres long. The project also includes five international-standard hotels and many top-quality amenities, services, and facilities.
Total investments topped LE24.2 billion, comprising over 2,500 residential units and 134 commercial plots, creating over 180,000 job opportunities. That is part of Emaar Misr’s vision when developing this vital region.
Marassi Narina and Yacht Club is the largest of its kind along the southern coastline of the Mediterranean. Its location is between Cairo, Turkey, and Crete, making it a focal point for regional yacht tourism.
Among the standout features in the new yacht marina is its design, which perfectly harmonises with its surroundings. The development also features a commercial avenue with entertainment, shops, and restaurants to suit all families.
The yacht docking port is state-of-the-art, featuring all the infrastructure necessary to park, service, and maintain yachts, inducing refueling stations and other travel-related services, available all year.
Marassi Marina and Yacht Club project also features four international hotels. The Address Marassi Beach Resort and Vida Marassi Marina Hotel are under construction within Marassi in Sidi Abdel Rahman, along the North Coast. That is the first time Vida brand has established a facility outside the UAE.
There will also be an international yacht club in the marina. Emaar Misr signed an agreement with the world-renowned Montenegro port yacht club to operate it, ensuring the unparalleled quality of service.
That agreement is an essential step for yacht owners in the Mediterranean. It offers members of the Marassi yacht club the ability to enjoy the facilities and amenities of Montenegro Porto port. It also allows members of the Montenegro Yacht Club to enjoy Marassi’s yacht club’s top-notch facilities.
During the inauguration, Emaar Misr Founder Mohamed Al-Abbar said: “We are proud of this international edifice that will transform the North Coast and put it on the global yacht tourism map. It also creates jobs in the yacht industry, attracts more investments to the North Coast, and contributes to the development of the areas surrounding the marina, which is part of our strategy.”
“One of our core values is that we pay extreme attention to all aspects of any project we undertake. Accordingly, the marina project is fully integrated with an unrivaled yacht port, services, and capacity. Meanwhile, the touristic walkway and international hotels will redefine Egypt’s North Coast, creating a new way of life in the region,” said Al-Abbar.
Emaar Misr’s founder added: “This yacht marina project aligns with the Egyptian government’s efforts to make the North Coast an all-year destination, not just a summer hot spot. That is why we were adamant that we built Marassi’s yacht marina to compete with international marinas in the Mediterranean, encouraging yacht owners to visit Egypt’s North Coast more often. That would invariably translate to more opportunities in this vital and pristine location.”
Abbar noted: “This marina is a standout addition to our investment portfolio in Egypt, which is a high growth market for real estate and construction. For more than 15 years, Emaar Misr has found success in the Egyptian market, with a land bank of over 17.4 million square metres and LE200 billion in investments.”
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