{"id":620260,"date":"2024-05-19T00:00:00","date_gmt":"2024-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/government-readies-land-transfer-following-arrival-of-final-tranche-of-ras-el-hekma-funds\/"},"modified":"2024-05-19T00:00:00","modified_gmt":"2024-05-19T00:00:00","slug":"government-readies-land-transfer-following-arrival-of-final-tranche-of-ras-el-hekma-funds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/government-readies-land-transfer-following-arrival-of-final-tranche-of-ras-el-hekma-funds\/","title":{"rendered":"Government readies land transfer, following arrival of final tranche of Ras El Hekma funds"},"content":{"rendered":"

Ras El Hekma land to be transferred soon: <\/strong>Egypt will finalize the transfer of the land for the Ras El Hekma project<\/a> to the newly established Ras El Hekma for Urban Development Project Company \u201cin the coming days, \u201dcabinet spokesman Mohamed El Homsani told Al Arabiya (watch, runtime: 5:46<\/a>). The announcement shortly follows the second and final tranche from the USD 35 bn agreement landing<\/a> in state coffers last week.<\/p>\n

What\u2019s next? <\/strong>The project is expected to break ground when the company wraps up the necessary studies early next year, El Homsani added.<\/p>\n

Remember: <\/strong>Ras El Hekma for Urban Development Project Company will be granted golden licenses to develop a freezone and investment zone and will also be setting up an international tourist port, as per a cabinet decision<\/a> last month.<\/p>\n

A NEW SAUDI PROJECT IN RAS EL HEKMA-<\/p>\n

Al Maraseem and Inertia are also lining up a project for Ras El Hekma: <\/strong>The Saudi Al<\/a>Marasem<\/a>Development<\/a> and Inertia Egypt<\/a> have agreed to set up a 640-feddan integrated tourism project with expected revenues of EGP 55 bn by 2029, Asharq Business<\/a> reported, citing two unnamed sources it says are familiar with the contract. Al Marasem will be responsible for the development of the project, while Inertia will contribute the land.<\/p>\n","protected":false},"excerpt":{"rendered":"

The state will transfer the land \u201cin the coming days,\u201d cabinet spokesman Mohamed El Homsani said<\/p>\n","protected":false},"author":1,"featured_media":620261,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[8595,72,125,7388,83,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-al-marasem-development","tag-enterpriseam","tag-investment-watch","tag-ras-el-hekma","tag-real-estate","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"676d546d-b451-4907-bb38-61bf62d66803","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1396.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian government readies land transfer, following arrival of final tranche of Ras El Hekma funds","related_issue":[620253],"teaser":"The state will transfer the land \u201cin the coming days,\u201d cabinet spokesman Mohamed El Homsani said","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.dea29192-e51d-4551-95b1-fda52603219a.mp3"},"yoast_head":"\nGovernment readies land transfer, following arrival of final tranche of Ras El Hekma funds - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/government-readies-land-transfer-following-arrival-of-final-tranche-of-ras-el-hekma-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government readies land transfer, following arrival of final tranche 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