Modon to develop EGP 45 bn infrastructure to support Ras El Hekma: UAE’s Modon Holding will spend up to EGP 45 bn over the next two and a half years on infrastructure supporting its Ras El Hekma project, three sources told Asharq Business.

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REMEMBER- Abu Dhabi sovereign fund ADQ appointed Modon as the master developer for its 170 mn sqm USD 35 bn Ras El Hekma project, and it will also develop the first 50 mn sqm phase of the city.

Modon tendered 2k feddans of work — including roads and bridges, electricity networks, and water and sewage systems — to ten local contractors, with awards expected to be finalized before year-end, according to one of the sources. The 50 sqm Modon project will feature seven luxury hotels, hotel units, and a large marina.

The first district to launch will be Wadi Yemm, a coastal zone featuring residential units, hotels, two golf courses, a country club, and an open-air theater with 10k seats.

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