Abu Dhabi’s ADQ-led consortium to invest Dh128.5 billion ($35 billion) in Egypt

Abu Dhabi-based investment and holding powerhouse, ADQ, has unveiled an unprecedented plan to inject a substantial $35 billion (Dh128.5 billion) into Egypt, marking a significant milestone in regional economic development.

In a strategic move, ADQ is set to acquire the development rights for Ras El-Hekma with a staggering investment of $24 billion. This transformative endeavor aims to elevate the region into one of Egypt’s largest city developments. Notably, the Egyptian government will maintain a significant 35% stake in this ambitious project.

Beyond Ras El-Hekma, ADQ is poised to channel an additional $11 billion into prime projects across Egypt, reinforcing the nation’s economic growth and development. Anticipated to commence in early 2025, these initiatives are expected to shape the future landscape of Egypt’s prosperity.

Ras El-Hekma: A Visionary Next-Generation City

Encompassing a vast expanse of 170 million square meters, Ras El-Hekma is envisioned as a next-generation city. With a focus on tourism amenities, a free zone, and an investment zone, it aims to seamlessly integrate residential, commercial, and recreational spaces, ensuring connectivity on both domestic and international fronts. Situated approximately 350 kilometers northwest of Cairo, Ras El-Hekma’s coastal allure adds a unique dimension to its significance.

ADQ’s Integral Role in Infrastructure Solutions

ADQ’s rich experience in delivering fully integrated infrastructure solutions across diverse sectors, including energy, water, transportation, and real estate, positions it as a key player in bringing substantial benefits to this new development and Egypt’s overall economy. Projections indicate that ADQ’s involvement is poised to attract an impressive $150 billion in investments.

Commitment and Collaboration for Egypt’s Prosperity

Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, affirmed the company’s enduring partnership with Egypt. Alsuwaidi emphasized ADQ’s track record in strategically selecting opportunities aligned with their investment framework, ultimately contributing to Egypt’s economic vitality.

“This investment underscores our commitment to developing Ras El-Hekma into one of Egypt’s most attractive coastal destinations,” stated Alsuwaidi. The collaborative efforts with esteemed partners such as Modon Properties and Talaat Moustafa Group are anticipated to deliver substantial value across multiple sectors of Egypt’s vibrant economy, marking a pivotal chapter in the region’s growth and prosperity.