UAE Ministry Boosts Emirati Investment in Egypt’s Ras El Hekma

UAE Ministry of Investment Supports Ras El Hekma Megaproject in Egypt

Abu Dhabi [UAE], October 5: The UAE Ministry of Investment (MoI) today announced its support and key role in the development of the Ras El Hekma project, its expansion and growth plan and the participation of Emirati companies. The project is one of the largest coastal urban developments in Egypt.

Located approximately 350 kilometers northwest of Cairo, the Ras El Hekma project has attracted significant interest from Emirati investors, attracted by its potential as a financial hub, free zone and luxury tourism destination. The Ministry was instrumental in streamlining processes, simplifying investment frameworks and identifying key opportunities for Emirati companies to participate in this strategic initiative.

Modon Holding, the master developer of the Ras El Hekma megaproject, will lead the project in collaboration with key partners from Egypt, the UAE and the international community. With several MoUs signed, including with Abu Dhabi Airports, TAQA and Burjeel Holding, the MoI will continue to facilitate future collaborations, ensuring Emirati companies make key contributions to the development of Ras El Hekmah.

The UAE Minister of Investment, Mohammed Hassan Al Suwaidi, said: “The Ras El Hekma project highlights the growing economic cooperation between the UAE and Egypt. The Ministry of Investment has worked to create an investment environment that allows Emirati companies to meaningfully contribute to Egypt’s development, promoting opportunities for long-term economic growth and shared prosperity.

Ras El Hekma is considered a key driver of economic growth, contributing $25 billion annually to Egypt’s GDP by 2045 and attracting $110 billion in investment during its development phase.

The UAE’s investment in Ras El Hekma is indicative of the two nations’ same goal of advancing regional prosperity, sustainable urban development, and increased economic cooperation. Egypt’s tourism and economic growth are expected to be significantly influenced by the megaproject, and the Ministry of Investments (MoI) of the United Arab Emirates (UAE) remains essential in directing and encouraging Emirati investments in various industries.