UPDATED: Egypt Inks Historic Multi-Billion Dollar Development Agreement for Ras El Hekma North Coast with Emirati Investors.

The agreement was formally signed at the New Administrative Capital by Egypt’s Minister of Housing, Assem El-Gazzar, and the UAE’s Minister of Investment, Mohamed Al Suwaidi.

Situated on the North Coast, west of Alexandria, the project will be overseen by the New Urban Communities Authority in collaboration with the Abu Dhabi Development Holding Company, a government-owned entity.

During the signing ceremony, Prime Minister Mostafa Madbouly announced that the new initiative is poised to inject $35 billion in foreign direct investment (FDI) into the economy within a span of two months, marking the largest FDI influx in the nation’s history.

ArabMLS Founder

Ahmed Elbatrawy, who leads the Arab MLS platform, aims to simplify property transactions in the Middle East, paving the way for unprecedented global investment opportunities.

Real Estate News

Get Latest Updates! *
Please enter a valid email address.