Egypt’s Prime Minister Mostafa Madbouly has greenlit the construction of an international tourist port in Ras El-Hekma, signaling a significant step towards boosting tourism and economic development in the region. The project is designed to accommodate tourist cruises and yachts. Moreover, it is part of a broader initiative to transform Ras El-Hekma into a vibrant urban and tourism hub.
According to a decree in Egypt’s official gazette, the Ministry of Transport‘s Maritime Transport and Logistics Sector will oversee the technical aspects of the establishment process. Moreover, the ministry, in coordination with other authorities, will spearhead the implementation process, ensuring seamless execution.
The approval for the international tourist port comes on the heels of a landmark agreement between Egypt and the UAE. Emirati investment firm ADQ committed $35 billion to the development of Ras El-Hekma. This investment underscores the strategic importance of the project in driving economic growth and fostering international partnerships in Egypt.
Read: ATM 2024: Egypt seeks GCC investment boost for tourism development
The vision for Ras El-Hekma extends beyond the construction of a tourist port. Thus, it encompasses a comprehensive urban and economic development plan. The project will feature residential districts, international hotels, tourist resorts, entertainment venues, and essential service facilities, including hospitals, schools, and universities. Additionally, it will host administrative and service buildings, a free economic zone, and a central business district, attracting global companies and fostering innovation and entrepreneurship.
Madbouly expects Emirati investments in Ras El-Hekma, the largest development in Egypt’s history, to exceed $150 billion.
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