Abu Dhabi-based ADQ plans to invest $35bn in Egypt

Abu Dhabi-based ADQ plans to invest $35bn in Egypt

ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest $35 billion in Egypt. ADQ will acquire the development rights for Ras El-Hekma for $24 billion to develop the region into one of the largest new city developments by a private consortium. Ras El-Hekma is a coastal region in Egypt located approximately […]ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest $35 billion in Egypt.

ADQ will acquire the development rights for Ras El-Hekma for $24 billion to develop the region into one of the largest new city developments by a private consortium. Ras El-Hekma is a coastal region in Egypt located approximately 350 kilometers northwest of Cairo.

As part of this investment, ADQ will also convert $11 billion of deposits that will be utilized for investment in prime projects across Egypt to support its economic growth and development.

Mohamed Hassan Al SuwaidiMD & CEO – ADQ

“ADQ is a long-standing investment partner in Egypt, and we have demonstrated our ability to select opportunities that are aligned with our investment framework and benefit the Egyptian economy. This investment underscores our commitment to developing Ras El-Hekma into one of Egypt’s most attractive coastal destinations through the enablement of