ADQ an Abu Dhabi-based investment and holding company, has hired Modon Holding as the master developer for Egypt’s ambitious Ras El Hekma megaproject.
In a landmark move that highlights the UAE and Egypt’s growing economic engagement, ADQ, an Abu Dhabi-based investment and holding company, has hired Modon Holding as the master developer for Egypt’s ambitious Ras El Hekma megaproject. This historic initiative, revealed in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Abdel Fattah El-Sisi, President of Egypt, is set to reshape the region through creative and sustainable urban development strategies.
The Ras El Hekma project aims to create a fully functional, smart, sustainable, and inclusive urban community. This megaproject, located around 350 kilometers northwest of Cairo, covers an impressive 170 million square meters. The initiative seeks to create a thriving metropolitan environment capable of housing two million people once completed.
Modon Holding will handle the entire development, with the first phase spanning 50 million square meters. This initial phase will comprise the installation of critical infrastructure and facilities, laying the groundwork for following development phases. The remaining 120 million square meters will be constructed in collaboration with notable developers from Egypt, the UAE, and the worldwide community.
Ras El Hekma’s master plan comprises a variety of residential neighborhoods, business spaces, hospitality venues, retail outlets, and recreational facilities. One of the project’s most notable aspects is the inclusion mof ore than 40 kilometers of green spines, which will make Ras El Hekma one of the greenest urban projects in the region.
The Ras El Hekma project aims to be an important source of revenue for Egypt. With total investments expected to reach USD 110 billion by 2045, the project is expected to provide approximately USD 25 billion per year to Egypt’s GDP. Furthermore, it is estimated to generate roughly 750,000 employment, both directly and indirectly, so considerably benefiting the local economy.
Ras El Hekma is primed to become a significant tourist destination, being only a four-hour flight away from over 400 million outbound travelers. The expansion will include an international airport and high-speed rail connections, increasing its accessibility and appeal. The master plan also includes an international marina and a unique free zone, increasing its appeal as a worldwide hub.
Modon Holding’s approach to the Ras El Hekma project focuses on sustainability and innovation. The project will incorporate smart city technologies and environmental practices to build an efficient and future-proof urban environment. The focus on sustainability is consistent with worldwide trends and the growing demand for environmentally friendly urban solutions.
Modon Holding’s nomination as master developer for the Ras El Hekma megaproject represents a key milestone in the UAE-Egypt economic partnership. This ambitious initiative not only promises to change the region’s urban landscape, but it also serves as a model for sustainable and inclusive urban development. As the project advances, it will definitely draw global attention and set new standards for megaprojects globally.
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