ADQ, the Abu Dhabi-based investment and holding company, has made a significant step in advancing Egypt’s urban development by appointing Modon Holding PSC as the master developer for the Ras El Hekma megaproject. The announcement was made in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan of the UAE and Egyptian President His Excellency Abdel Fattah El-Sisi. The Ras El Hekma project is set to become one of the largest and most ambitious developments in Egypt, spanning 170 million square metres.
Modon Holding will oversee the entire masterplan and also lead the first phase of the city’s development, covering 50 million square metres. The remaining 120 million square metres will be developed in collaboration with prominent Egyptian, Emirati, and international developers. This will be managed by ADQ’s subsidiary, Ras El Hekma Urban Development Project Company, and Modon Holding.
A Visionary Urban Development
Located around 350 kilometres northwest of Cairo, Ras El Hekma is designed to be a smart, sustainable, and inclusive urban community. The project is expected to drive economic growth, with total investments reaching US$110 billion by 2045. It is projected to contribute around US$25 billion annually to Egypt’s GDP and create approximately 750,000 jobs, directly and indirectly.
Once completed, the megaproject will house two million residents and feature more than 40 kilometres of green spines, solidifying its position as the greenest urban development in the region. Ras El Hekma’s strategic location, being within a four-hour flight for over 400 million tourists, places a strong emphasis on the development of tourism infrastructure. The development’s early phases will include the construction of an international airport and high-speed rail connections, making it a focal point for tourism, hospitality, and leisure.
Key Partnerships Driving Success
Modon Holding’s Chairman, His Excellency Jassem Mohamed Bu Ataba Al Zaabi, described Ras El Hekma as a future crown jewel of the region, highlighting the company’s commitment to delivering a dynamic and sustainable development. With our expertise and innovative approach, Modon is poised to transform Ras El Hekma into a global model for urban development, fostering economic growth and job creation, he stated.
Several strategic partnerships were also announced, which are set to play a pivotal role in the success of the project. These agreements include a framework contract with Orascom Construction for the first phase of development, and memoranda of understanding with Elsewedy Electric, Abu Dhabi Airports, TAQA, Valderrama, Candy International, and Montage International for various elements of the project ranging from infrastructure to luxury real estate and hospitality.
A Global Destination in the Making
Ras El Hekma is designed to be more than just a residential area. It will also include office spaces, hospitality venues, and retail and recreation facilities. The project will feature an international marina and a free zone to support various industries, such as financial services, technology, light manufacturing, and business services. With these components, Ras El Hekma is set to become a hub for tourism, investment, and innovation.
Modon Holding’s Group CEO, Bill O’Regan, emphasised the long-term vision for the development, stating, Ras El Hekma is one of our most significant projects outside the UAE. We are committed to delivering a unique destination that will stand out as an extraordinary experience for both visitors and residents.
The project marks a major expansion of Modon’s footprint beyond the UAE, signalling the company’s ambition to establish itself as a leading player in global urban development.
Strategic Infrastructure and Economic Boost
The Ras El Hekma megaproject will prioritise the development of key industries and services, positioning itself as a driver of economic growth in Egypt. The smart city infrastructure will include digital connectivity, fiber networks, smart building technologies, IoT-enabled solutions, and automated energy management systems. The inclusion of a state-of-the-art marina, luxury hotels, healthcare facilities, and cultural venues further emphasises the project’s role in elevating Egypt’s tourism and hospitality sectors.
The strategic partnerships formed during the project’s unveiling, including agreements with top-tier international developers and contractors, reflect the global significance of Ras El Hekma as a forward-looking urban destination. The combination of tourism, business services, and sustainable urban planning will create a model city that attracts global attention.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi added, “This visionary endeavour promises to make a substantial contribution to the Egyptian economy. Developing a project of this scale requires strategic expertise, which will be realised through robust partnerships. We look forward to harnessing the full potential of this extraordinary location.”
As Egypt continues to evolve its urban landscape, the Ras El Hekma megaproject stands out as a milestone that will shape the country’s future, positioning it as a global leader in sustainable and innovative urban development.