Gulf Egypt for Hotels and Tourism, a subsidiary of United Real Estate Company (URC), has unveiled plans for a mixed-use tourism and hospitality development in Sharm El Sheikh with investments exceeding EGP 20bn, as part of its expansion strategy in Egypt.
The project, announced as the company marks 50 years of operations in the Egyptian market, will span approximately 354,458 sqm and feature around 750 metres of beachfront. It is located near Sharm El Sheikh International Airport and the city’s conference and events district.
The company said the development will combine hospitality, residential, leisure, wellness, and entertainment components within a single master-planned destination.
As part of the project, Gulf Egypt signed a cooperation protocol with Al Montazah Tourism & Investment Company, from which it acquired the project land. The agreement follows the completion of planning and evaluation studies and aims to facilitate the project’s development.
Sameh Shoaib, Executive Managing Director of Al Montazah Tourism & Investment Company, stated that the partnership is intended to support tourism development in Sharm El Sheikh by advancing integrated tourism infrastructure and attracting investment.
Gulf Egypt also signed advisory agreements with HVS, a global hospitality consultancy, and JLL to conduct market research, economic and feasibility studies, and provide support for the project’s master planning and development strategy.
Tarek Elshazly, CEO of Gulf Egypt for Hotels and Tourism, said the company is focusing on developing integrated tourism destinations that combine hospitality with residential and leisure uses, in line with Egypt’s tourism development plans.
According to the company, the project will include a luxury hotel, two branded residential communities, and an internationally branded beach club, in addition to retail, leisure, and wellness facilities. The beach club is expected to operate as a year-round venue for events and entertainment activities.
Founded in 1976, Gulf Egypt owns and operates several hospitality assets in Egypt, including Hilton Cairo Heliopolis and Waldorf Astoria Cairo Heliopolis. The planned Sharm El Sheikh development represents the company’s latest investment in Egypt’s tourism and hospitality sector.
