Egypt’s Red Sea growth story creates new openings for UK investors – Somabay CEO
Egypt’s Red Sea coast is emerging as a more attractive destination for international investment thanks to major infrastructure upgrades, expanding tourism offerings, and growing opportunities for cross-border partnerships, Somabay Group Chief Executive Ibrahim El Missiri said on Wednesday.
Speaking at the British Egyptian Business Association’s (BEBA) business mission to the United Kingdom, El Missiri said sustained investment in roads, airports, and tourism infrastructure over the past decade has strengthened the region’s competitiveness and improved its resilience to external shocks.
“The infrastructure story has been transformational,” El Missiri said, highlighting significant improvements in road networks linking Cairo to Red Sea destinations and the planned high-speed rail project, which he said could further enhance accessibility and support tourism, real estate, and broader economic activity.
Somabay, established in 1991 through Egyptian and international investment, has evolved from a traditional resort destination into a diversified mixed-use development that includes hotels, marinas, golf facilities, and growing residential communities.
El Missiri said improved connectivity has been a critical driver of growth, pointing to expanding airline partnerships and increased international flight access. He highlighted the role of carriers such as easyJet in opening additional routes to Egyptian destinations, while stressing that continued airport development remains essential to sustaining tourism growth.
Beyond traditional leisure tourism, he identified sports tourism and medical tourism as emerging growth segments. Investments in golf courses, swimming facilities, and international training centers are attracting professional sports teams and educational institutions, helping extend tourism activity beyond seasonal peaks.
Medical tourism also presents significant potential, he said, citing Egypt’s healthcare capabilities, although broader insurance coverage for international visitors remains an area for further development.
Addressing opportunities for British companies, El Missiri said Egypt’s real estate and tourism sectors are increasingly seeking structured international partnerships rather than conventional contractor-client relationships.
He said the most successful projects are those developed through collaborative models that integrate expertise across planning, design, procurement, and project delivery, allowing both sides to contribute throughout the development process.
El Missiri pointed to landmark projects such as the Four Seasons First Residence in Giza as examples of how Egyptian and international partners can combine technical expertise, global supply chains, and investment capabilities to deliver large-scale developments.
“Egypt is open for investment, but more importantly, it is open for partnership,” he said, adding that UK companies possess expertise in design, hospitality, urban development, and project management that aligns well with the country’s next phase of growth.
The remarks came as government officials, investors, and business leaders gathered in London to promote Egypt’s investment opportunities and economic reform agenda, with tourism, real estate, and infrastructure among the sectors attracting growing international interest.