Ras El Hekma at two years: $35bn in, $110bn targeted by 2045
ADQ's $35bn came as about $24bn in new cash and $11bn in converted deposits; Egypt keeps a 35% stake. Developers project more than $110bn of investment by 2045.
Property News Africa looked at Ras El Hekma two years after the February 2024 deal, in an article published on 22 June 2026.
ADQ's US$35 billion commitment came in two parts: about US$24 billion in new foreign-currency cash for the development rights, and about US$11 billion of existing UAE deposits converted to equity. Egypt keeps a 35% stake and a share of long-term profits.
Developers project cumulative investment above US$110 billion by 2045. The article notes these are developer and official estimates, not guarantees. The project is in its second full year of construction, with phase one, about 5,500 apartments, a golf course, shops and a seafront, targeting completion around 2028.
Source: Property News Africa, 22 June 2026. Original report ↗
