Staff Report,
Dubai, UAE
Abu Dhabi Developmental Holding Company PJSC (ADQ), an Abu Dhabi-based investment and holding company, said it will invest US$35 billion in Egypt including US$24 billion in developing Ras El-Hekma region into one of the largest new city developments by a private consortium. As part of this investment, ADQ will also convert US$11 billion of deposits that will be utilised for investment in prime projects across Egypt to support its economic growth and development.
Ras El-Hekma
Ras El-Hekma is a coastal region in Egypt located approximately 350 kilometres northwest of Cairo. The investment will establish Ras El-Hekma as a leading Mediterranean destination, spanning over 170 million square metres, offering tourism amenities, a financial center, and a free zone to strengthen Egypt’s economic and tourism growth potential. The destination will also house an investment zone that combines residential, commercial, and recreational spaces. It will provide connectivity both domestically and internationally. Work is expected to commence in early 2025. The Egyptian government will retain a 35 percent stake in the Ras El-Hekma development.
ADQ’s decision to invest in Ras El-Hekma is underpinned by its track record of smart-growth planning and investing in similar large-scale infrastructure and development projects in the region. With experience in providing fully integrated infrastructure solutions across a broad range of services, including energy, water, transportation, and real estate, ADQ aims to bring significant benefits to the new development and Egypt’s economy and is expected to attract over US$150 billion in investments. It intends to leverage Egyptian and international partners as part of its development and investment plans.
Ras El-Hekma’s master plan will adopt digital and technological smart-city solutions to attract foreign direct investment, boost trade, support Egypt’s private sector via an in-country localization program, and drive job creation to maximize economic benefits.
Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, said, “ADQ is a long-standing investment partner in Egypt, and we have demonstrated our ability to select opportunities that are aligned with our investment framework and benefit the Egyptian economy. This investment underscores our commitment to developing Ras El-Hekma into one of Egypt’s most attractive coastal destinations through the enablement of mega-infrastructure and development projects, working with partners such as Modon Properties and Talaat Moustafa Group, which will deliver value across multiple sectors of Egypt’s vibrant economy.”
Egypt’s North Coast has garnered interest from global investors and tourists, showcasing its aptitude to benefit from international partnerships. Ras El-Hekma will be a global destination in the Mediterranean with hotels, yacht marinas, and entertainment facilities.
Sustainability is a key feature of the envisaged master plan, ensuring local ecosystems are preserved to create a highly attractive place to live, work, and play in Ras El-Hekma.
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 said it will invest US$35 billion in Egypt including US$24 billion in developing Ras El-Hekma region){kind=link}