Madbouly reviews Ras El Hekma project timeline with Modon
Madbouly checks latest progress on Ras El Hekma
Prime Minister Mostafa Madbouly has reviewed the latest implementation updates for the Ras El Hekma megaproject during a meeting in the New Administrative Capital with Jassem Mohamed Bu Ataba Al Zaabi, chairman of the Abu Dhabi Department of Finance and chairman of Modon Holding. The talks focused on how work is advancing across the flagship development on Egypt’s northwestern Mediterranean coast and on coordination between the Egyptian and Emirati sides to keep delivery on schedule.
The meeting, reported on July 7, 2026 by Egypt’s State Information Service and Egyptian local media, underlined the government’s continued oversight of one of the country’s most closely watched investment projects. Madbouly stressed that regular follow-up is intended to maintain momentum and support implementation according to the agreed timetable.
Why Ras El Hekma matters for Egypt
Ras El Hekma has become one of the most significant development stories on Egypt’s North Coast since the landmark Egypt-UAE agreement announced in February 2024. Under that deal, Abu Dhabi-based ADQ said a consortium would invest US$35 billion in Egypt, with US$24 billion tied to acquiring development rights for Ras El Hekma and Egypt retaining a 35% stake in the project.
For Egypt, the site is not just another summer destination. The government sees Ras El Hekma as a long-term urban, tourism and investment engine that could reshape the western stretch of the Mediterranean coastline, complementing the growth of New Alamein and strengthening the wider North Coast as a year-round economic zone rather than a seasonal market.
That positioning helps explain the close political follow-up. In official statements, Madbouly has framed the project as a catalyst for new opportunities in tourism, real estate, services and infrastructure, with the potential to broaden economic activity along the coast.
Modon says first-phase components are moving ahead
According to the latest official readout, Al Zaabi told the prime minister that construction is progressing in line with schedule. He said the hospitality, commercial and entertainment elements included in the first phase remain on track to begin operating as planned, although no new public opening dates were announced during the meeting.
That first-phase emphasis is important. Ras El Hekma is being promoted as a mixed-use coastal city rather than a single resort, bringing together hotels, branded residences, retail, leisure venues and other urban components. Modon has also been positioning the destination around its natural coastline and beach appeal as it tries to build an international tourism profile for the project.
Recent corporate announcements have added more detail to that strategy. In May 2026, Modon Holding and Montage Hotels & Resorts announced Montage Ras El Hekma, described as the first Montage resort in Egypt. The project is set to include 200 guestrooms and suites and 96 branded residences within Wadi Yemm, identified as the first precinct moving into active delivery within the broader masterplan.
Scale of the development
Public materials released by Modon and its partners show the scale of the long-range ambition behind Ras El Hekma. The wider masterplan has been described as a 170.8 million square metre development, with Modon-linked project material referring to a vision for 17 precincts and long-term investment potential reaching US$110 billion by 2045.
While such long-horizon projections should be treated as development targets rather than guaranteed outcomes, they indicate how the project is being marketed to investors and hospitality brands. On the ground, the immediate focus remains on delivery, infrastructure readiness and the first operating assets that can give the destination visible traction.
Modon-associated project information also places Ras El Hekma roughly 30 minutes from New Alamein City and near Alamein International Airport, reinforcing its planned role as an accessible upscale tourism and residential hub for both domestic and overseas visitors.
Egypt-UAE coordination remains central
The latest meeting also highlighted the political structure around the project. Ras El Hekma is not only a real estate development; it is one of the clearest examples of current Egypt-UAE economic cooperation. The continued involvement of senior officials from both sides signals that progress at the site is being monitored well beyond the corporate level.
Al Zaabi thanked Madbouly for the government’s close follow-up, describing Ras El Hekma as a transformative investment for the North Coast. The two sides also agreed to conduct a joint site visit in the near future to inspect progress on location, a step that could produce further updates on implementation and phasing.
What comes next for the North Coast flagship
For readers in Egypt, the significance of Ras El Hekma goes beyond headline investment figures. The real test will be whether the project can translate announced partnerships and masterplans into visible construction milestones, operating hotels, entertainment offerings and sustainable local economic activity.
If the current timetable holds, the first phase should begin to show more tangible results through hospitality and leisure components, helping define what kind of destination Ras El Hekma will become in practice. For the government, success would support its push to deepen tourism revenues, attract foreign capital and extend development westward along the Mediterranean coast.
For now, the message coming out of the latest Madbouly-Modon meeting is straightforward: Ras El Hekma remains on Egypt’s priority list, and both Cairo and Abu Dhabi want the project to keep moving at pace.
- Key figures: Mostafa Madbouly, Jassem Mohamed Bu Ataba Al Zaabi, Modon Holding, ADQ
- Location: Ras El Hekma, Egypt’s northwestern Mediterranean coast
- Deal size announced in 2024: US$35 billion
- Recent hospitality update: Montage Ras El Hekma with 200 rooms and 96 branded residences