These deals include the development of the Ras El-Hekma City project.
Chairman of the Information and Decision Support Center (IDSC), Osama El-Gohary, announced that the government has offered 18 deals from its assets, amounting to $30 billion.
These deals include the development of the Ras El-Hekma City project.
El-Gohary added, during the Private Sector Partnership Conference, that the Ras El-Hekma deal is part of the State Ownership Policy Document (IPO) program, under the offering of assets within the tourism development sector.
He clarified that ongoing reports on the State Ownership Policy Document are being presented to an international auditing body to add new indicators, emphasizing the government’s commitment to implementing the document.
El-Gohary also stated that the government aims to achieve competitive neutrality by empowering and expanding the role of the private sector in the economy.
With projected cumulative investments reaching $110 billion by 2045, the Ras El Hekma megaproject is expected to contribute approximately $25 billion annually to Egypt’s GDP and create around 750,000 jobs, according to a recent joint press release by developer ADQ and Modon Holding.
“As a project of unprecedented scale and impact, Ras El Hekma will be a catalyst for the development of Egypt’s economy by offering opportunities for businesses and stimulate tourism,” explained His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ.
