The UAE’s Ministry of Investment (MoI) recently announced its support and key role in advancing the Ras El Hekma development, one of Egypt’s most ambitious coastal city developments. The ministry also highlighted the participation of several Emirati companies in the project’s expansion and growth plan, noting its role in facilitating and driving investments in the project.
Located around 350 kilometers northwest of Cairo, the Ras El Hekma project has gained significant interest from Emirati investors due to its potential to become a strategic financial center, free zone, and luxury tourism destination.
Facilitating Emirati investments in Ras El Hekma
The UAE’s Ministry of Investment has been instrumental in streamlining processes. It helped simplify investment frameworks and identify key opportunities for Emirati companies to participate in this strategic initiative.
“The Ras El Hekma project highlights the growing economic collaboration between the UAE and Egypt. The Ministry of Investment has worked to create an enabling investment environment, allowing Emirati companies to contribute meaningfully to Egypt’s development and fostering opportunities for long-term economic growth and shared prosperity,” stated Mohamed Hassan Al Suwaidi, UAE Minister of Investment.
Key local players
Abu Dhabi’s Modon Holding will be the master developer for the Ras El Hekma megaproject. The company will steer the project in collaboration with prominent partners from Egypt, the UAE, and the international community. Upon completion, the development will be home to two million people. It will also feature over 40 kilometers of green spines, making Ras El Hekma the greenest megaproject in the region.
Other UAE players participating in the development of Ras El Hekma also include Abu Dhabi Airports, TAQA, and Burjeel Holding.
Noting the growing interest from local players, the ministry reiterated its commitment to facilitating future collaborations. Moreover, it highlighted its role in ensuring Emirati companies remain key contributors to Ras El Hekma’s development.
Read | Ras El Hekma megaproject: ADQ appoints Modon Holding as master developer
Ras El Hekma to attract $110 billion in investments
Ras El Hekma is projected to be a major driver of economic growth, contributing $25 billion annually to Egypt’s GDP by 2045. The development is also set to attract $110 billion in investments during its development phase.
The UAE’s investment in Ras El Hekma reflects the mutual vision between the two countries to promote sustainable urban development, regional prosperity, and deeper economic cooperation. This megaproject will become a key driver of Egypt’s tourism and economic growth. In addition, the UAE’s Ministry of Investment will continue to play a pivotal role in guiding and promoting Emirati investments across various sectors of the project.
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