Tatweer Misr has unveiled SALT Marina, a mixed-use waterfront development in Egypt's North Coast, with planned investments of EGP 28bn.
The project forms part of the wider SALT development with total planned investments of EGP 70bn. The company said the wider SALT development targets EGP 100bn in sales, of which EGP 24bn has already been achieved.
SALT Marina spans approximately 340,000 sqm, including a 105,000-sqm marina and a 2.65-kilometer waterfront. The project will also feature three Crystal Lagoons covering a combined 30,000 sqm and is designed to accommodate 65 yachts with marine piers covering 16,300 sqm.
The project will comprise approximately 2,600 residential and hospitality units, in addition to a hotel, serviced apartments, and two beach clubs. Its architectural design was developed by Gianluca Peluffo & Partners and draws inspiration from the Italian coastal town of Portofino.
Ahmed Shalaby, Co-founder, President, and CEO of Tatweer Misr, said the company is focusing on developing integrated coastal destinations to strengthen Egypt’s competitiveness in marine tourism. Tatweer Misr estimates that SALT Marina will create around 5,000 direct jobs and 15,000 indirect jobs, attract approximately 600,000 visitors annually, and generate EGP 3bn in annual revenues.