Modon Holding announced a partnership with Montage Hotels & Resorts to launch “Montage Ras El Hekma” on Egypt’s Mediterranean coast, marking the luxury hospitality brand’s first project in Egypt.
The development will introduce the first branded residences for purchase in Ras El Hekma alongside the region’s first Montage resort.
According to the company, Montage Ras El Hekma will include:
• 200 guestrooms and suites
• 96 branded Montage Residences villas
• 6 dining venues
• Spa Montage with 13 treatment rooms
• Beachfront swimmable lagoons
• Retail and family-focused leisure experiences
• Event spaces, outdoor lawns and terraces
• Dedicated Owners’ Clubhouse
The branded residences will consist of three- to six-bedroom villas located within Wadi Yemm, the first precinct of the broader Ras El Hekma development. Select villas will feature views of both the Mediterranean Sea and a championship golf course.
Modon stated that the project forms part of the broader USD 35 billion Ras El Hekma masterplan, spanning approximately 170.8 million square metres along Egypt’s northern coast.
The wider masterplan is expected to attract approximately USD 110 billion in investment by 2045 and includes:
• 44 kilometres of Mediterranean coastline
• A central business and financial district
• Residential, education and mixed-use districts
• A new international airport
• High-speed rail connectivity
• Marinas and a cruise terminal
According to Modon, the project is expected to contribute approximately USD 25 billion annually to Egypt’s GDP upon completion and create around 750,000 jobs.
The company stated that Ras El Hekma is designed to become a next-generation city and a major global destination for tourism, hospitality and investment.
Source: Abu Dhabi Securities Exchange (ADX) Disclosure / Modon Holding
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.