Abu Dhabi’s investment holding firm ADQ is leading a consortium that will invest $35 billion in major projects in Egypt.
ADQ said it will acquire the development rights for Ras El Hekma, a coastal region about 350km north-west of Cairo, for $24 billion.
The mega project is intended to turn the region into one of the largest new city developments by a private consortium.
The Egyptian government will retain a 35 per cent stake in the development and the work is expected to start next year, ADQ said in a…
