Arab Finance: The Egyptian government has compensated Ras El-Hekma residents with EGP 4.4 billion, Prime Minister Mostafa Madbouly announced in a statement on August 7th.
He added that efforts are underway to relocate 1,500 families to the "Shams El-Hekma" area.
This move is in preparation for handing over the first phase of the project to the Emirati developer.
The construction and infrastructure works of the Ras El-Hekma project will kick off before the end of 2024.
In February, Talaat Moustafa Group Holding (TMG) partnered with ADQ and Modon Properties to develop Ras El-Hekma project.