In the presence of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and His Excellency Abdel Fattah El-Sisi, President of the sisterly Arab Republic of Egypt, the Emirati “Modon Holding” Group announced that it had concluded cooperation agreements with the first group of partners and investors to develop the Ras El Hekma project in northwest Cairo. On the Mediterranean Sea.
The strategic agreements included… several memorandums in the infrastructure sector with “Taqa” Company to explore business opportunities to develop, finance and operate infrastructure projects… and “E&Misr” Company to design and implement the smart city infrastructure, including digital communication networks, optical fiber and fifth generation ( G5), and “Orascom Construction” company is the main contractor for the preliminary works in the field of construction.
A memorandum of understanding was also signed with Elsewedy Electric to supply building materials, in addition to a cooperation agreement with Abu Dhabi Airports to design, develop and operate the new airport in the city.
In the real estate development sector, an agreement was signed with the international company “Candy International” with the aim of exploring cooperation opportunities and benefiting from the company’s wide international scope in the field of luxury real estate development.
In the hotel and hospitality sector, a cooperation agreement was signed with Montage International and Accor-Ynismore to develop and operate hotels and resorts in Ras El Hekma. The agreements also included a partnership agreement with Valderma Company, which is one of the largest international companies specialized in developing and operating golf courses.
In the health sector, a memorandum of understanding was signed with Burjeel Holding Company to develop multi-specialty health care facilities and implement innovative health care solutions.
His Excellency Jassim Mohammed Buataba Al Zaabi, Chairman of the Department of Finance – Abu Dhabi and Chairman of the Board of Directors of Mudon Holding, said: “The Ras Al Hekma project is one of the most important and largest economic, investment and development projects in the region, which will require concerted efforts with major international and local companies in its implementation.”
He added: “These agreements aim to develop projects that contribute to improving the quality of life, enhancing competitiveness in various fields, and highlighting Ras Al-Hekma’s status as an integrated and sustainable city.”
For his part, Bill O’Regan, CEO of Mudon Holding Group, stressed that the Ras Al-Hekma project requires high planning and strong strategic partnerships to ensure the desired success, indicating that developing an urban project of this magnitude requires great expertise and capabilities, which can only be achieved through these partnerships. Strategy.
Ras El Hekma City, which extends over an area of more than 170 million square metres, will include tourist facilities, a free zone and an investment zone, in addition to residential, commercial and entertainment projects. The total cumulative investment in this giant project is expected to reach 110 billion US dollars by 2045.
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