The strategic agreements included several memorandums in the infrastructure sector with “Taqa” Company to explore business opportunities for developing, financing and operating infrastructure projects, and “Taqa” Company.E&EgyptTo design and implement the infrastructure of the smart city, including digital communication networks, fiber optics, and the fifth generation (5G), and Orascom Construction is the main contractor for the preliminary work in the field of construction.
A memorandum of understanding was also signed with the company “Elsewedy Electric“To supply building materials in addition to a cooperation agreement with”Abu Dhabi Airports“To design, develop and operate the new airport in the city.
In the real estate development sector, an agreement was signed with the international company “Candy International” with the aim of exploring cooperation opportunities and benefiting from the company’s wide international scope in the field of luxury real estate development.
In the hotel and hospitality sector, a cooperation agreement was signed with Montage International and Accor-Ynismore to develop and operate hotels and resorts in The head of wisdom.
The agreements also included a partnership agreement with Valderma Company, which is one of the largest international companies specialized in developing and operating golf courses.
In the health sector, a memorandum of understanding was signed with Burjeel Holding Company to develop multi-specialty health care facilities and implement innovative health care solutions.
Jassim Mohammed Buataba Al Zaabi, Head of the Department of Finance, said Abu DhabiChairman of the Board of Directors of Mudon Holding: “The Ras Al-Hekma project is one of the most important and largest economic, investment and development projects in the region, which will require concerted efforts with major international and local companies in its implementation.”
He added: “These agreements aim to develop projects that contribute to improving the quality of life, enhancing competitiveness in various fields, and highlighting Ras Al-Hekma’s status as an integrated and sustainable city.”
For his part, Bill O’Regan, CEO of Mudon Holding Group, stressed that the Ras El Hekma project requires high planning and strong strategic partnerships to ensure the desired success.
Pointing out that developing an urban project of this magnitude requires great expertise and capabilities, which can only be achieved through these strategic partnerships.
Ras El Hekma City, which extends over an area of more than 170 million square metres, will include tourist facilities, a free zone and an investment zone, in addition to residential, commercial and entertainment projects.
The total cumulative investment for this giant project is expected to reach US$110 billion by 2045.
