Abu Dhabi’s investment and holding company, ADQ, has inked a deal with the Egyptian government to invest $35 billion in the country.
ADQ acquired the development rights for the Mediterranean coastal city “Ras El-Hekma” for $24 billion. Additionally, ADQ will convert $11 billion of deposits that will be used for investment in prime projects across Egypt to support its economic growth and development.
Egyptian government to retain a 35 per cent stake in Ras El-Hekma development.
