{"id":677334,"date":"2025-06-24T00:00:00","date_gmt":"2025-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/24\/a-coast-under-the-influence-2\/"},"modified":"2025-06-24T00:00:00","modified_gmt":"2025-06-24T00:00:00","slug":"a-coast-under-the-influence-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/24\/a-coast-under-the-influence-2\/","title":{"rendered":"A coast under the influence"},"content":{"rendered":"

Imagining Ras El Hekma:<\/strong> Back in February 2024<\/a>, when Abu Dhabi acquired the development rights to the Ras El Hekma triangle for USD 35 bn, the headlines were all about the moment: It was a lifeline \u2014 a historic influx of capital that promised to pull our economy back from the brink almost overnight. For weeks, the conversation centered on the sheer scale of it: The largest agreement on FDI in our history, unmatched in size, scope, and ambition. Then the noise faded. Questions have quietly bubbled up since.<\/p>\n

You can expect to hear a lot more about Ras El Hekma later this summer or early fall. <\/strong>That\u2019s when our sources expect Modon, the UAE-headquartered developer tasked with bringing it to life, is expected to give the nation a glimpse of what it\u2019s planning. We\u2019re excited about the project and what it means to the nation and the economy \u2014 whether you\u2019re a business leader or thinking as a potential homebuyer, you need to factor the North Coast in general and Ras El Hekma, in particular, into your plans.<\/p>\n

To help you, we\u2019re asking: <\/strong>What makes Ras El Hekma different? And more importantly, how can it become a catalyst that redefines urban development \u2014 not just in one coastal stretch, but across the entire North Coast and, perhaps, beyond?<\/p>\n

But first, a quick geography lesson: <\/strong>The city of Ras El Hekma will stretch from kilometre 170 to kilometre 220 on the Alexandria-Matrouh Road. It\u2019s a few klicks west of TMG\u2019s SouthMed<\/strong>, which has racked up over EGP 350 bn in sales since its launch in summer 2024. <\/p>\n

Ras El Hekma is a new centre of gravity on the coast: <\/strong>The broader area of Ras El Hekma (as distinct from the as-yet unnamed city Modon will build) is currently the hottest spot in Sahel \u2014 especially since last year \u2014 witnessing numerous luxury offerings from the biggest real estate developers\u2026<\/p>\n

In the line up: <\/strong>Projects like Mountain View Ras El Hekma<\/strong>, Soul <\/strong>by Emaar Misr, The Med <\/strong>by People and Places, Swan Lake <\/strong>by Hassan Allam Properties, Caesar, June, and Ogami <\/strong>by SODIC line up,<\/strong> all the way to Ramla <\/strong>by Marakez, which is directly adjacent to the Ras El Hekma triangle. Development extends beyond the Ras El Hekma triangle with other projects including Shehab Mazhar's Sidi Heneish Village<\/strong> and Marsa Bagoush<\/strong>, Ora Developers' Silver Sands<\/strong>, and Palm Hills Developments' Hacienda Heneish<\/strong>, ending roughly at Travco's Almaza Bay<\/strong>.<\/p>\n

\u201cThis triangle will be <\/strong>the<\/strong> new center of the North Coast,\u201d<\/strong> says Abdallah Sallam<\/strong>, CEO of Madinet Masr<\/strong>. \u201cThis project will include a real city, not just a resort \u2014 a city with an airport, global tourism attractions, and medical and industrial facilities serving all the areas currently being developed on the coast.\u201d<\/p>\n

Sahel may be \u201cpredominantly a destination for Egyptians today,\u201d <\/strong>says Marakez<\/strong> Executive Vice Chairman Dasha Badrawi<\/strong>, but that\u2019s changing as it becomes increasingly popular with holidaymakers who live abroad. <\/p>\n

The balance will shift with time as the infrastructure matures<\/strong> \u2014 more airports, hotel rooms and activities. \u201cWe have already announced the Adr\u00e8re Amellal hotel in Ramla and are in advanced stages of finalizing our plans for a second, larger hotel,\u201d Badrawi adds.<\/p>\n

Upscaling is the name of the game: <\/strong>Only \u201cCategory A\" players are being allowed to build communities in Sahel, a senior government source<\/strong> tells us. Developers must have on board consulting firms with international experience to meet the needs of Sahel\u2019s new clients, the source notes. It\u2019s a deliberate move to ensure consistency, scale, and integration across projects as Egypt looks to transform the entire stretch into a world-class tourism and urban development destination.<\/p>\n

Our offering will have to improve to compete with international destinations<\/strong>. \u201cIn Ramla, for example, we have placed The Town in the heart of the project on the seafront with underground parking for visitors. Our sports and leisure activities occupy 10 acres and include tennis, padel, basketball courts, fitness studios, a semi Olympic pool and multi purpose courts,\u201d Badrawi told us. Significant amenities are the table stakes to attract holidaymakers \u2014 let alone making possible the dream of year-round residents.<\/p>\n

More developers are beginning to introduce<\/strong> a wider selection of international brands and <\/strong>high-end hospitality, shopping, and fine dining experiences<\/strong> along Ras El Hekma. SODIC, for example, plans to have a Nobu hotel and restaurant at Ogami, in addition to launching Dubai\u2019s Surf Club at June next month. \u201cIf you\u2019re looking at international destinations like Ibiza or Southern France, they mainly depend on entertainment,\u201d SODIC<\/strong> General Manager Ayman Amer<\/strong> told us.<\/p>\n

\u201cI see Sahel season extending to four months and even longer in the very near future,\u201d <\/strong>the SODIC GM adds. Remember the \u201cold days\u201d of Gouna in the early 1990s? It was considered a far-off destination and people shied away from going there \u2014 now, Cairenes flock there on weekends year-round, Amer notes.<\/p>\n

\u201cDesigning a place for permanent residents is very different from developing second <\/strong>homes or vacation homes<\/strong>,\u201d El Gouna<\/strong> CEO Mohamed Amer<\/strong> explains. The planning considerations are different: Having a broad vision of the intended outcome is absolutely key \u2014 \u201cand I have no doubt that this is going to be the case for a project as huge as Ras El Hekma\u201d, he added.<\/p>\n

You have to be very deliberate about the community you want to build.<\/strong> \u201cIf there is one thing that is critical for the continuation of El Gouna, it\u2019s the community. That, in my opinion, is going to be the key. The way the community is built will define the longevity and the long-term viability of the entire development\u2026 Today, 40% of Gouna\u2019s sales are generated internationally,\u201d EL Gouna\u2019s Amer told us.<\/p>\n

The Ras El Hekma triangle is not one project, but many independent developments chained <\/strong>together<\/strong>, so there\u2019s going to be a very wide range of clients. \u201cI don\u2019t want to talk on somebody else\u2019s behalf, but I imagine a big part of the target market is going to be international,\u201d the Gouna chief added.<\/p>\n

Two game-changing licenses:<\/strong> Modon Holding \u2014 the master developer of Ras El Hekma triangle \u2014 received two key approvals in May 2024 for its project; one to build an airport to serve the area and another to establish an 18 mn sqm free-service zone, Redcon Properties<\/strong>\u2019 Tarek El Gammal<\/strong> explained. This economic zone will help position Ras El Hekma as a fully integrated destination \u2014 inspired by Dubai\u2019s DIFC model \u2014 with a special focus on attracting European firms looking to use Egypt as a gateway to 22 countries, including 18 in Europe.<\/p>\n

Beyond lagoons and luxury villas: <\/strong>El Gammal took issue with the limited vision that has long shaped North Coast development, which has largely been focused on high-end villas and artificial lagoons. Modon\u2019s Ras El Hekma, by contrast, is envisioned as a real city \u2014 complete with high-quality education, industrial infrastructure, and business facilities alongside its tourism offerings. The idea, he said, is to attract diverse residential patterns, including full-time residents, not just seasonal vacationers.<\/p>\n

Modon is building a dream team: <\/strong>Last year, Modon inked a pile of agreements<\/a> with local, regional, and international players to get the project off the ground, including:<\/p>\n