Ras El Hekma, the mega-project on Egypt’s North Coast developed with Abu Dhabi’s Modon Holding, continued to advance through 2026.
Construction contracts
In January 2026, Orascom Construction was named primary contractor for a district of the first phase. In September 2026, Modon awarded a contract of about US$200 million to an Egyptian joint venture for Wadi Yemm, the first premium destination, which covers around 660 residential units, lakes and a mall over a 21-month programme.
Luxury hospitality
In May 2026, Modon announced a partnership with Montage Hotels & Resorts to bring an ultra-luxury resort and residences to Ras El Hekma.
Government follow-up
Prime Minister Mostafa Madbouly reviewed the project’s progress in July 2026, and officials said first-phase hospitality, commercial and entertainment facilities remained on track to open as planned.
Why it matters
Large, internationally backed projects bring roads, utilities and services that lift the whole coast — including nearby residential and resort communities. Progress updates above come from Modon, government statements and the trade press.
Sources
- AGBI — Modon awards $200m Ras El Hekma contract to Egyptian JV (Sept 2026)
- Daily News Egypt — PM Madbouly reviews progress of Ras El Hekma (July 2026)
- Modon — Partnership with Montage Hotels & Resorts for Ras El Hekma (May 2026)
- State Information Service — Egypt, UAE’s Modon push Ras el Hekma project forward
