His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the Arab Republic of Egypt, and His Excellency Abdel Fattah El-Sisi today witnessed the announcement of a development plan for the city of Ras el-Hekma on the north-west coast of Egypt, and donated a large sum of money. made direct investments. Up to $35 billion.
The Presidents of the UAE and Egypt were presented with a visual overview of the project, its objectives and overall concept, and its significant economic, investment, real estate and tourism potential, especially given its strategic location in the Mediterranean Sea. Gender was emphasized.
They also listened to presentations by relevant officials about the region’s key features, the integrated services it offers, and the opportunities created to drive prosperity.
His Highness Sheikh Mohammed bin Zayed Al Nahyan thanked the UAE and Egyptian teams who worked on the project and praised the development plan and its ambitious goals.
His Highness underlined the importance of this project in strengthening economic and investment ties between the UAE and Egypt, noting that it is a model for a constructive development partnership between the two countries.
He hoped that those overseeing this project will succeed in achieving the desired goals in the coming years, which will bring further prosperity and growth to the people of the UAE and Egypt.
It is noteworthy that the investment agreement for the Ras El Hekma project was signed in February this year. This coastal region, located approximately 350 kilometers northwest of Cairo, covers an area of more than 170 million square meters and falls under the administrative jurisdiction of Matrouh Governorate.
The project includes tourist facilities, free zones and investment areas, as well as residential, commercial and entertainment buildings. The master plan includes an 80 million square meter residential zone that will accommodate approximately 190,000 villas and apartments and accommodate up to 2 million residents.
In addition, 12 million square meters will be dedicated to retail, entertainment and leisure, with 25 percent of the total area set aside as open space, making it the greenest city in the Mediterranean. Ras El Hekma also includes an investment zone, a special free zone and five marinas.
The ceremony was attended by His Highness Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi. His Highness Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan, Deputy Head of the Presidential Court of Special Issues. Sheikh Mohammed bin Hamad bin Tahanoun Al Nahyan, Special Affairs Adviser to the Presidential Court. Ali bin Hamad Al Shamsi, Secretary-General of the Supreme Council for National Security; Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Mohammed Hassan Al Suwaidi, Minister of Investment; Mohamed Mubarak Fadel Al Mazrouei, Minister of Defense Affairs; Jabr Ghanem Al Suwaidi, Minister of State. Dr. Ahmed Mubarak Ali Al Mazrouei, Director of the Presidential Office of Strategic Affairs; Mr. Faisal Abdulaziz Mohammed Al Bannai, Advisor to the President of the United Arab Emirates on Strategic Research and Advanced Technology; Mr. Jassim Mohamed Butab Al Zaabi, Director General of Abu Dhabi Ministry of Finance and Member of Abu Dhabi Executive Council. Mariam Khalifa Al Kaabi, Ambassador of the UAE to the Arab Republic of Egypt, and a number of senior officials from both countries.