Friday 18 Oct
President Abdel Fattah El-Sisi and Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, witnessed Friday the launch of the Ras El-Hekma development project. Prime Minister Dr. Moustafa Madbouly was present, in addition to a number of senior businessmen from the Egyptian and from Egypt and the UAE.
At the project launch, the presidents witnessed a presentation highlighting its economic, investment, real estate, tourism, and environmental significance. They also listened to a detailed explanation of the region's advantages, integrated services, and the project's potential for development and economic growth. Furthermore, they witnessed the signing of several agreements between Egyptian and Emirati companies to commence work on the project.
Both presidents expressed their appreciation to the Egyptian
and Emirati teams for their work on the project. They affirmed the importance of
the project in strengthening the economic and investment relations between the
two countries, serving as a model for constructive partnership.
The presidents also witnessed a new partnership between
global, Egyptian, and Emirati companies to promote innovation in electric smart
vehicles across the Middle East and North Africa. According to the Emirates
News Agency, the Matrouh-based project has received $35 billion in direct
investments.
Sheikh Mohammed bin Zayed Al Nahyan expressed his gratitude He
expressed his deep gratitude to the dedicated work teams from both the Emirati
and Egyptian sides who tirelessly contributed to the project over the past
period. He commended their exceptional planning and ambitious goals.
He highlighted the project's significance as a prime example of a constructive development partnership between the two countries. Wishing the project team continued success in achieving its ambitious objectives in the years to come, he emphasized its potential to benefit and prosper both brotherly peoples.
The Ras El Hekma city project,
located 350 kilometers northwest of Cairo, is a massive coastal development
spanning over 170 million square meters. Signed in February, the investment
deal positions this project as a major economic driver for the Matrouh
Governorate.
The master plan envisions a
sustainable city with a strong focus on green spaces, comprising 25% of the
total area. This commitment to environmental sustainability aligns with the
highest urban development standards.
The project will feature a mix of
residential, commercial, and recreational facilities, including a residential
area accommodating up to 2 million people, a 12 million square meter retail and
entertainment district, and five marinas. Additionally, the development will
include an investment zone and a special free zone.
The signing ceremony was attended by Sheikh Hazza bin Zayed Al Nahyan, Deputy Governor of Abu Dhabi, Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs, Sheikh Mohammed bin Hamad bin Tahnoon Al Nahyan, Advisor for Special Affairs at the Presidential Court, Ali bin Hammad Al Shamsi, Secretary-General of the Supreme National Security Council, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Mohamed Hassan Al Suwaidi, Minister of Investment, Mohammed Mubarak Al Mazrouei, Minister of State for Defense Affairs, Jaber Al Suwaidi, Minister of State, Dr. Ahmed Mubarak Ali Al Mazrouei, Head of the President's Office for Strategic Affairs, Faisal Al Bannai, Advisor to the President for Strategic Research and Advanced Technology, Jassim Mohammed Buotaiba Al Zaabi, Chairman of the Department of Finance in Abu Dhabi, member of the Executive Council, Mariam Al Kaabi, UAE Ambassador to Egypt, and a number of senior officials from both countries.
