Arab Finance: Talaat Moustafa Group Holding (TMG) has partnered with Abu Dhabi Developmental Holding (ADQ) and Modon properties to develop Ras El Hekma project, as per a statement.

Egypt will receive $35 billion in foreign direct investment (FDI) from Abu Dhabi Developmental Holding (ADQ) for the Ras El Hekma project.

Prime Minister Mostafa Madbouly made the announcement after the signing ceremony between the Ministry of Housing, Utilities, and Urban Communities, represented by the New Urban Communities Authority (NUCA), and ADQ.

The Egyptian government will retain a 35% stake in the Ras El-Hekma project.

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