Ras el-Hekma (Arabic: راس الحكمة) is a village on the coast of the Mediterranean Sea in Egypt.
Ras el-Hekma
راس الحكمة Ras al-Hikma
Ras al-Hekma | |
|---|---|
Village | |
  Ras el-Hekma Location in Egypt | |
| Coordinates: 31°13′N 27°51′E / 31.217°N 27.850°E | |
| Country |  Egypt |
| Governorate | Matruh |
| Time zone | UTC+2 (EST) |
| • Summer (DST) | +2 |
| Website | https://rasalhekma.com |
Overview
editRas el-Hekma is located in the Egyptian Western Desert on a cape in the Mediterranean Sea, some 70 km east of Mersa Matruh and 200 km west of Alexandria. The area produces 17 percent of Egypt's olives and 26 percent of its figs.[1]
In 2024, Egypt's New Urban Communities Authority and the Abu Dhabi Developmental Holding Company (ADQ), a sovereign wealth fund based in the United Arab Emirates, signed a deal for the ADQ to invest $35 billion in developing the area "New Ras el-Hekma".[2] The deal grants ADQ the right to develop 130 million square metres of land, and is the largest foreign investment deal in Egypt's history.[2] Questions have been raised regarding the project's impact on Egypt's large debt burden[3] and the forced relocation of current residents.[1] Abu Dhabi investment company Modon Holding PSC is the main developer of the project.[4]
It is planned to establish a city on an area of 55 thousand acres in the location of the village, where the Egyptian government hopes the city will become a new 'Sharm El Sheikh' on the Mediterranean Sea.[5]
The new city is divided into 11 districts: Eastern Gate - Sun Gate - White Hill - Design District - Tribal City - Wisdom Island - Fig Valley - Old District - Turtle Beach - Gulf - Western Gate. It is planned to be built in the Bedouin architectural style.
References
edit- ^ a b "Ras el-Hekma: The Bedouin threatened by the UAE's Egypt megaproject". Middle East Eye.
- ^ a b Tabikha, Kamal (February 27, 2024). "UAE's $35bn investment to develop Ras Al Hekma provides lifeline for Egypt's economy". The National.
- ^ Shawkat, Yahia (March 12, 2024). "Understanding Egypt's Ras Al-Hekma Land Deal: No Panacea". The Tahrir Institute For Middle East Policy. Archived from the original on 2024-09-11.
- ^ "UAE's Modon appointed main developer of Egypt's Ras El Hekma city project". Reuters. 4 October 2024. Retrieved 6 October 2024.
- ^ "Contractor Selected for $35bn New Egyptian City Development on Mediterranean Coast - Infra Info Hub". 2024-10-07. Retrieved 2024-10-08.