Overview of Ras El Hekma

Ras El Hekma is a new state-of-the-art city under development on Egypt’s North Coast, located west of Alexandria. The project is a joint venture between the New Urban Communities Authority and the Abu Dhabi Development Holding Company, with a total investment of USD 150 billion (EGP 4.6 trillion). The project is expected to create a major urban, business, and tourism center in the country.

Geographic Significance

Ras El Hekma is located on the Mediterranean coast, one of Egypt’s most important tourist destinations. The area is known for its pristine beaches, crystal-clear waters, and beautiful natural landscapes. The project covers an area of 170 million square meters and will include residential neighborhoods, tourist resorts, schools, universities, an industrial zone, and a central business district.

Historical Context

The development of Ras El Hekma is part of Egypt’s ongoing efforts to modernize its infrastructure, attract foreign investment, and promote economic growth. The project is expected to create thousands of jobs and boost the country’s tourism industry. The city is also expected to become a hub for innovation and technology, focusing on sustainable development and environmental conservation.

Some key points to note about Ras El Hekma are:

• The project is a joint venture between the New Urban Communities Authority and the Abu Dhabi Development Holding Company.
• The total investment for the project is USD 150 billion (EGP 4.6 trillion).
• The project covers an area of 170 million square meters.
• The city will include residential neighborhoods, tourist resorts, schools, universities, an industrial zone, and a central business district.
• The development of Ras El Hekma is part of Egypt’s ongoing efforts to modernize its infrastructure, attract foreign investment, and promote economic growth.
• The city is expected to become a hub for innovation and technology, focusing on sustainable development and environmental conservation.

Ras El Hekma Development Projects

Ras El Hekma, a multi-billion dollar project, is set to redefine the coastal landscape of Egypt and create a major urban, business, and tourism center. Spearheaded by the New Urban Communities Authority and the Abu Dhabi Development Holding Company, the new city is expected to bring $35 billion into the country within two years.

Residential and Commercial Expansion

The Ras El Hekma project aims to provide residents with a modern and sustainable living space. The project will include residential neighborhoods, schools, universities, and an industrial zone. The city will also have a central financial and business district, attracting investors and entrepreneurs to set up their businesses. The development project will span over 170 million square meters, including recreational, service, and residential projects.

Infrastructure and Transportation

The infrastructure of the city is designed to be modern and sustainable. The project will have a well-planned road network that connects the city to the rest of the country. The city will also have an international airport, making it easier for tourists and business travelers to access the city. The project will also have a central railway station, connecting the city to other major cities in Egypt.

Tourism and Recreational Facilities

The project will include a marina for yachts and tourist ships, attracting tourists worldwide. The city will also have several recreational spaces, including parks, gardens, and sports facilities. The project will also have several tourist resorts that will provide visitors with a luxurious and comfortable stay.

Economic Impact

The Ras El Hekma project is expected to have a significant economic impact on Egypt. The development of this new state-of-the-art city will create investment opportunities and generate job creation, leading to overall economic growth.

Investment Opportunities

The Ras El Hekma project is expected to attract a total investment of $150 billion, with an initial investment of $35 billion from the UAE. This investment will significantly boost the Egyptian economy, creating new opportunities for businesses and investors. The city’s development is expected to attract further investment, leading to sustainable economic growth.

Job Creation and Economic Growth

The development of Ras El Hekma is expected to generate significant job opportunities for the people of Egypt. The project is expected to create over 1 million jobs during the development phase alone and provide long-term employment opportunities for the local population. This job creation will increase revenues and profits for businesses, further contributing to economic growth.

The project is also expected to positively impact the surrounding communities, providing them with access to modern infrastructure and services. This will improve their quality of life and contribute to the region’s overall development.

Government and International Relations

Public-Private Partnerships

The Ras El Hekma project results from the Egyptian Government’s efforts to collaborate with the private sector to provide investment opportunities and create jobs. The project is a public-private partnership between the Egyptian Government and the United Arab Emirates (UAE). The partnership aims to develop the Ras El Hekma peninsula on the Mediterranean west of Alexandria.

The project is part of Egypt’s 2052 Urban Development Plan, which aims to create sustainable cities and improve the quality of life for Egyptians. The plan is aligned with the International Monetary Fund’s (IMF) recommendations for economic growth, job creation, and poverty reduction.

Foreign Investment and Collaboration

The Ras El Hekma project is the largest foreign direct investment deal in Egypt’s history, with a total investment of $35 billion. The project is a collaboration between the Egyptian Government and the UAE’s ADQ, one of Abu Dhabi’s sovereign investment funds. The agreement includes a $24 billion investment by ADQ to acquire development rights for Ras El Hekma, with an additional $11 billion investment in infrastructure and other projects.

The project is expected to create more than one million jobs and attract as much as $150 billion in foreign investment over the next few years. The project’s success will depend on the collaboration between the Egyptian Government and the UAE’s ADQ.

Prime Minister Mostafa Madbouly has expressed his confidence in the project’s success and its positive impact on the Egyptian economy. The project is expected to boost tourism, create jobs, and improve the quality of life for Egyptians.

Sustainability and Environment

Ras El Hekma development project is committed to sustainable development goals and environmental protection. The project aims to create an intelligent city that integrates technology and sustainable solutions to enhance the quality of life for its residents.

Smart City Solutions

The Ras El Hekma project will use smart city solutions to improve energy efficiency, reduce waste, and optimize resource usage. The smart city solutions implemented in the project include:

• Smart metering systems for water and electricity consumption
• Intelligent traffic management systems
• Waste management systems that use advanced technologies such as recycling and composting
• Energy-efficient buildings that use renewable energy sources

The smart city solutions will help reduce the city’s carbon footprint and create a sustainable environment for the residents.

Climate Change and Local Ecosystems

The Ras El Hekma project is committed to protecting local ecosystems and mitigating the impact of climate change. The project will implement the following measures to achieve this goal:

• The project will use sustainable construction materials and methods that minimize environmental impact.
• The project will implement a green infrastructure plan that includes parks, green roofs, and green walls to improve air quality and reduce the urban heat island effect.
• The project will protect local ecosystems by preserving wetlands, mangroves, and other natural habitats.
• The project will use sustainable transportation systems, including electric and public transportation, to reduce carbon emissions.

By implementing these measures, the Ras El Hekma project will create a sustainable environment that protects local ecosystems and mitigates the impact of climate change.

Financial Aspects

Funding and Investments

The Ras El Hekma project has attracted significant investment from the United Arab Emirates (UAE), with a reported $35 billion investment announced in February 2024. This investment partnership agreement between Egypt and the UAE is one of the biggest deals of its kind and will be used to develop the Ras El Hekma peninsula on the Mediterranean coast.

The funding for the project will be used to develop a range of facilities, including residential neighborhoods, tourist resorts, schools, universities, an industrial zone, and a central business district. The project is expected to create a major urban, business, and tourism center in the country.

Economic Challenges

The Central Bank of Egypt has been working to address some of the country’s economic challenges, including foreign currency shortages, high levels of debt, and a need for foreign investment. The investment deal with the UAE is expected to help address some of these challenges, but there are still concerns about the country’s economic stability.

Egypt has been struggling with foreign debt, which reached $125.3 billion in the first quarter of the 2023 fiscal year. The country received a bailout from the International Monetary Fund (IMF) in 2016 to help address its debt issues. The IMF has been working with the Egyptian government reforms to improve economic stability.

Exchange rate fluctuations have also challenged the country, with the Egyptian pound losing value against the US dollar in recent years. The Central Bank of Egypt has been working to stabilize the exchange rate, but there are still concerns about the impact of currency fluctuations on the country’s economy.

Despite these challenges, the Ras El Hekma project is expected to significantly boost the Egyptian economy, creating jobs and attracting foreign investment. The project is part of a broader effort to develop the country’s infrastructure and attract more tourists to the region.

Urban Planning and Design

Ras El Hekma’s urban planning and design are a critical component of the city’s development, aiming to create a world-class infrastructure that supports the needs of the next-generation city. The city’s master and smart-growth plans are designed to provide residents with a sustainable and livable environment.

Master Plan and Smart-Growth Planning

The city’s master and smart-growth plans are designed to provide residents with a sustainable and livable environment. The plan includes multiple mixed-use developments, residential areas, and commercial zones, each with unique features. The city’s infrastructure is designed to be environmentally friendly, with green spaces and parks strategically placed throughout the city.

Next-Generation City Features

Ras El Hekma is a next-generation city that is designed to be a smart city that is digital and technologically smart. The city’s infrastructure is designed to support the latest digital and technological smart city solutions, making it a hub for innovation and technology. The city’s transportation system is designed to be efficient and eco-friendly, with a focus on public transportation.

The city’s smart city solutions include advanced IoT, big data, and AI technologies. These technologies manage the city’s infrastructure, traffic, and public services. The city’s digital infrastructure is designed to be secure and reliable, providing residents with high-speed internet and other digital services.

Ras El Hekma’s urban planning and design are a testament to the city’s commitment to creating a sustainable and livable environment for its residents. The city’s master plan and smart growth planning, combined with its next-generation city features, make it a hub for innovation and technology.

Cultural and Social Dimensions

The Ras El Hekma project is not only limited to business and tourism. The development plan includes several cultural and social dimensions that aim to enhance the quality of life for residents and visitors alike.

Educational Institutions

The New Urban Communities Authority and the Abu Dhabi Development Holding Company have planned to establish several educational institutions in Ras El Hekma. The project includes constructing schools and universities and providing access to quality education for residents and visitors.

Cultural and Social Amenities

The Ras El Hekma project aims to create a Mediterranean holiday destination that caters to the needs of all visitors, including those with disabilities. The project includes constructing cultural and social amenities, such as museums, art galleries, and theaters promoting the region’s rich history and culture.

The project also promotes human rights and inclusivity by providing accessible facilities and services for people with disabilities. The development plan includes wheelchair ramps, accessible restrooms, and other facilities that cater to the needs of people with disabilities.