Egyptian Prime Minister vows $150 billion investments for Ras Al Hekma

In a virtual meeting with over 110 international investors representing diverse sectors, 59 of them from the UAE, Egyptian Prime Minister Dr. Mostafa Madbouly pledged at least $150 billion in investments for the Ras Al Hekma project over its development years. This translates to an annual average of $3 to $4 billion.

Dr. Madbouly acknowledged the project’s long-term nature, similar to any large-scale urban development requiring years to complete.

He delved into the core aspects of the Ras Al Hekma deal, emphasising the benefits Egypt will reap and the project’s positive ripple effects on the national economy.

The Prime Minister explained that developing El Alamein City and establishing Ras Al Hekma align with a broader strategy to revitalise Egypt’s North Coast, by significantly increasing hotel room capacity and establishing new tourist destinations in this promising region.

  Hatem Mohamed / Tariq Al Fahaam