GAFI - Ras El Hikma City
The General Authority for Investment and Free Zones (GAFI) is undertaking the construction of Ras El Hikma City in North Coast, Egypt.
The city's plan includes utilizing the agricultural reclamation area to create new urban complexes based on tourism, residential, agricultural industrialization and mining activities, in addition to safari tourism activities. The city is scheduled to accommodate 300,000 residents, in addition to attracting 3 million tourists annually focusing on yacht tourism, beach, environmental and desert tourism.
The US$24,000 million project includes the following:
1. Construction of sea-town Cliffs
2. Beach reclamation works
3. Development of Recreational & Social Activities
4. Construction of office spaces
5. Construction of residential units
6. Construction of Two 18-hole Golf Courses
7. Construction of international airport
8. Construction of an international marina
9. Construction of Equestrian Centre
10. Construction of 44 km beachfront
11. Construction of Sports Centre
12. Construction of 300 Villas
13. Development of secondary infrastructure
14. Development of Golf Course
15. Construction of Bridges
Second Section
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19 June 2025
Ras El Hikma City: Preliminary Works: Orascom Construction was appointed as the main contractor on the project and construction works have commenced.
06 May 2025
Ras El Hikma City: Preliminary Works: The main contract tender is yet to be awarded.
11 April 2025
Industrial Zone: The client has signed a memorandum of understanding (MoU) with 3S Readymix Concrete a subsidiary of Hassan Allam Holding for the implementation of the project.
20 February 2025
Preliminary Works: China State Construction Engineering Corporation (CSCEC) has partnered with Cairo-based Al-Organi Group to target projects at the upcoming Ras El-Hekma project in Egypt. (Source: MEED)
27 October 2024
Modon has appointed Aedas as the lead consultant for the entire masterplan. (Source: MEED)
07 October 2024
The client has signed several Memorandums of Understanding with Orascom Construction, El Sewedy Electric, Abu Dhabi Airports and Abu Dhabi energy company TAQA for the implementation of Ras El Hikma City: Preliminary Works.
28 July 2024
JD Holding signed a deal with Fab Group and several private investors to invest in the project. (Source: MEED)
08 May 2024
The Ministry of Finance has allocated the US$3710 million for the implementation of the project.
27 February 2024
ADQ company has been appointed as the developer. (Source: MEED)
12 February 2024
The client is in negotiations with UAE companies for the investment of the project. However, a negotiations are still ongoing and final contract has not sign yet on the project.