Unlocking Opportunities in Egypt’s North Coast
Abu Dhabi-based investment and holding company ADQ has announced plans to invest a staggering $35 billion in Egypt. Here are the key details:
1. Ras El-Hekma Development
- Investment: ADQ will acquire the development rights for Ras El-Hekma, a coastal region in Egypt, for $24 billion.
- Next-Generation City: Spanning over 170 million square meters, Ras El-Hekma will be a next-generation city primarily comprising tourism amenities, a free zone, and an investment zone.
- Connectivity: The city will seamlessly connect residential, commercial, and recreational spaces domestically and internationally.
2. Economic Impact
- Foreign Direct Investment: Ras El-Hekma’s master plan aims to attract foreign direct investment, boost trade, and drive job creation.
- Egypt’s Vibrant Economy: ADQ’s commitment aligns with Egypt’s economic growth and diversification goals.
3. Long-Standing Partnership
- Mohamed Hassan Al Suwaidi, Managing Director and CEO of ADQ, emphasized the company’s long-standing investment partnership in Egypt.
- Economic Benefits: The investment will enhance Egypt’s vibrant economy across multiple sectors.
4. Ras El-Hekma’s Attractions
- World-Class Destination: Ras El-Hekma will feature unmatched attractions, including hotels, yacht marinas, and entertainment facilities.
- Egypt’s North Coast: This investment showcases Egypt’s aptitude for international partnerships.
The Egyptian government will retain a 35 percent stake in the Ras El-Hekma development, ensuring a collaborative approach to this transformative project.
Ras El-Hekma is poised to become a leading Mediterranean holiday destination, financial center, and free zone. As work commences in early 2025, the world awaits the rise of this coastal gem.
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!Ras El-Hekma
1: Consortium led by Abu Dhabi’s ADQ to invest $35 billion in Egypt
