Emirati Madani awards Ras Al Ghayt contract

The UAE-based "Madayn Holding Group" has announced the delivery of several contracts for projects valued at approximately $462 million (about 18.3 billion Egyptian pounds) as part of the Ras Al Hikma project in Egypt, which is considered one of the largest real estate and tourism developments on the North Coast. A consortium of "Redcon for Construction" and "Inovo" has been tasked with executing infrastructure and residential units in the Wadi Yom area over 18 months. Additionally, another consortium has been appointed to carry out infrastructure works with an amount nearing $200 million. The Ras Al Hikma project, launched in October 2024 with investments of up to $35 billion and being developed by Ras Al Hikma Urban Development Company, is one of the largest development projects between Egypt and the UAE. It encompasses a 170 million square meter area featuring residential units, hotels, and entertainment facilities, with plans to develop the remaining spaces in collaboration with partners from Egypt, the UAE, and around the world.

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