ADQ-led consortium to invest USD 35 billion in Egypt

• ADQ to acquire Ras El-Hekma development rights for USD 24 billion
• Egyptian government to retain a 35 percent stake in Ras El-Hekma development
• ADQ to invest USD 11 billion in real estate and other prime projects in Egypt in addition to the development rights for Ras El-Hekma
• Ras El-Hekma development is expected to attract over USD 150 billion in investments
• Work is expected to commence in early 2025

Abu Dhabi, UAE – 23 February 2024:   ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest USD 35 billion in Egypt. ADQ will acquire the development rights for Ras El-Hekma for USD 24 billion to develop the region into one of the largest new city developments by a private consortium. As part of this investment, ADQ will also convert USD 11 billion of deposits that will be utilized for investment in prime projects across Egypt to support its economic growth and development.

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