Egypt's Prime Minister Moustafa Madbouly met on Sunday with key officials from UAE's Modon Holding to review progress on the ambitious Ras El-Hekma mega-development, a transformative project set to reshape Egypt's North Coast. During the high-level discussions with Modon Holding Chairman Jassem Al Zaabi and CEO Bill O'Regan, Prime Minister Madbouly praised the company's rapid progress in finalising the master plan and reaffirmed the Egyptian government's full support for accelerating its execution. The project took a major step forward in October 2024, when ADQ, an Abu Dhabi-based investment and holding company, appointed Modon Holding as the master developer in the presence of Egyptian President Abdel Fattah El-Sisi and UAE President Sheikh Mohamed bin Zayed Al Nahyan. Al-Zaabi confirmed that significant strides have been made in the master plan since the appointment, emphasising strong collaboration between Egyptian and Emirati private sector firms, including contractors and developers, to ensure a world-class execution. He also shared insights into the project's key features and expressed confidence in partnering with Egyptian companies to establish Ras El-Hekma as a premier global destination. Positioned as a game-changing urban, tourism, and investment hub, the Ras El-Hekma megaproject is expected to strengthen Egypt's regional economic influence, attracting billions in foreign investment and transforming the North Coast into a leading international destination. Attribution: Amwal Al Ghad English
