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Modon Holding PSC, the master developer for the Ras El-Hekma megaproject on Egypt’s Mediterranean coast, has taken a significant step forward by securing key partnerships for the ambitious development.

The project, situated on Egypt’s north coast, is envisioned as a leading urban and tourist hub, boasting a wide array of attractions and amenities. Modon Holding aims to leverage its large-scale development expertise, collaborating with local, regional, and global partners to bring this visionary destination masterplan to life.

On 4 October, in a ceremony attended by Egypt’s President Abdel Fattah Al-Sisi and UAE President Mohamed bin Zayed Al Nahyan, Modon signed several significant agreements with its first group of investors and partners.

One of the key agreements was a framework agreement with Orascom Construction, designating them as one of the primary contractors for the initial phase of the project. This is a significant step, highlighting the trust Modon has in Orascom’s capabilities.

Other agreements included memorandums of understanding with:

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