In a monumental collaboration between real estate mogul Hesham Talaat Mostafa and Prime Minister Mostafa Mabduly, Egypt has unveiled its latest ambitious project: South Med. This $21 billion public-private initiative promises to redefine the landscape of Egypt’s northwest coast, marking it as the largest tourist real estate endeavor in the region. Spanning an impressive 23 million square meters with an eight-kilometer beachfront, South Med aims to catapult Egypt into the global tourism spotlight. The Vision Behind South Med Creating a Global Tourist Hub: South Med is envisioned not just as a real estate project, but as a global tourist destination. With projections to double tourist numbers by 2023 and expand hotel accommodations significantly, it targets high-income foreign tourists seeking luxury experiences in an exotic setting. Economic Impact and Job Creation: This project is not only about tourism but also about economic revitalization. It is expected to generate substantial tax revenues and contribute up to LE1 trillion, approximately $21 billion, to the national treasury. Moreover, South Med aims to provide 1.6 million job opportunities, addressing critical unemployment challenges in Egypt. The Strategic Partnership Public-Private Collaboration: South Med exemplifies Egypt’s strategy to leverage private sector investments to bolster its economy. The partnership between Talaat Mostafa Group and the government underscores a shift towards privatization in real estate development, aligning with broader economic reforms aimed at reducing state intervention. Development Milestones: Following the success of previous ventures like the $35 billion Ras al-Hikma project, South Med consolidates Talaat Mostafa’s role as a key player in Egypt’s economic transformation through large-scale urban developments. These projects are pivotal in securing foreign investments crucial for Egypt’s economic stability. Frequently Asked Questions: - What is South Med? South Med is a $21 billion real estate project led by Hesham Talaat Mostafa, aimed at developing Egypt’s northwest coast into a premier global tourist destination. - How will South Med impact Egypt’s economy? South Med is expected to generate significant tax revenues, potentially contributing up to LE1 trillion to Egypt’s economy, and create 1.6 million job opportunities. - Why is South Med significant? It represents Egypt’s largest tourist real estate initiative, aligning with efforts to boost tourism, attract foreign investments, and enhance economic resilience. South Med stands as a testament to Egypt’s commitment to economic reform and private sector integration in national development agendas. By focusing on sustainable tourism and job creation, this project not only promises to elevate Egypt’s global stature but also to enrich its economic landscape for years to come.
SouthMED is located in Dabaa, North Coast. The developer of SouthMED is Talaat Moustafa.
The completion date for SouthMED is and the finishing for the properties are Fully Finished.
The starting price of properties in SouthMED is Ask for price .The downpayment for a property in SouthMED is starting at Ask for price or Ask for price. The number of installments for a property in SouthMED is 60 installments and has a payment plan of 15 years. The monthly payment of a property in SouthMED Ask for price