Abu Dhabi, UAE; 27 March 2025: Modon Holding P.S.C (“Modon”), an Abu Dhabi-based holding company, and Egypt’s Elsewedy Industrial Development have signed a letter of intent (LOI) to build and operate a new industrial zone servicing the Ras El Hekma city megaproject in Egypt.

The 10 million sqm new industrial zone,located south of the Alexandria-Matrouh Highway and opposite the Ras El Hekma site being developed by Modon,will initially focus on attracting investors and manufacturers forbuilding materials for the wider project – ensuring timely, cost-effective construction while introducing advanced, sustainable materials. With strong connectivity to major roads, airports, and the high-speed rail network, the zone will enhance and localise supply chains as the development progresses.