Egyptian Prime Minister Mostafa Madbouly reviewed the execution of the UAE-backed Ras El Hekma megaproject on the northwest coast on Tuesday, stating the rapid pace of development demonstrates the state’s capacity to attract and implement global investments in record time.
During a site visit, Madbouly toured the Portaluna Hotel and the Wadi Yam project, both affiliated with the UAE’s Modon Holding. He highlighted that the project’s progress and executive plans are fundamental to Egypt’s strategy for sustainable urban and tourism development along the Mediterranean.
The Prime Minister was accompanied by Housing Minister Randa El Menshawy, Matrouh Governor Mohamed El Zamlout, and Jassem Al Zaabi, Chairman of Abu Dhabi’s Department of Finance and Modon Holding, alongside other Emirati officials.
“The pace of achievement and the existing investment partnerships reflect the solidity and ability of the Egyptian state to attract more promising global investments,” Madbouly said. He emphasised the project’s high operational returns and its ability to maximise foreign direct investment to support national development schemes.
The Ras El Hekma project is a cornerstone of the strategic partnership between Egypt and the UAE. Housing Minister El Menshawy described it as a model for the smart and sustainable cities Egypt aims to build on the northwest coast, intending to position it as a global destination for investment, tourism, and services.
During the tour, Al Zaabi explained that the Portaluna Hotel—part of the Morgans Original brand under Modon Hospitality—features 73 suites, seven restaurants, and a beachfront boutique resort.
The delegation also reviewed the Wadi Yam project, which encompasses 13 residential communities, six hotels, two 18-hole golf courses, a 10,000-seat amphitheatre, a sports club, a 1.3-kilometre tourist promenade, a 2.5-kilometre beach, a coastal park, and five lagoons. Modon Holding officials reported the sale of over 3,500 units within the project, citing strong customer demand.
El Menshawy detailed the Housing Ministry’s role in coordinating the handover of project land and overseeing infrastructure work. For the adjacent “Shams El Hekma” city project, which provides alternative land for displaced residents, she reported 100% completion of drinking water, sanitation, and road networks in the urgent Phase A, B, and C areas. Electricity and lighting networks in these zones have also been completed and energised.
Work is ongoing in Area D, covering 1,400 feddans, where the sanitation network is 85% complete, and drinking water network installations are underway, El Menshawy added.
Madbouly praised the volume of rapid field achievement, the harmonious architectural design, and the high technical and structural quality across the various work sites. He noted the government is committed to resolving any procedural challenges to ensure the project meets global standards within set timeframes.
