UAE-Egypt partnership to create 20,000 jobs in Ras El Hekma industrial zone

A major UAE-Egypt real estate collaboration could generate more than 20,000 jobs through the development of a new industrial zone servicing Egypt’s Ras El Hekma megaproject, according to the Emirates News Agency (WAM).

Modon Holding and Egypt’s Elsewedy Industrial Development have signed a letter of intent to jointly develop and operate the 10 million sq m zone, located just south of the Alexandria-Matrouh Highway and directly opposite the Ras El Hekma development site.

Initially, the zone will target manufacturers and suppliers of building materials for the wider city project, ensuring timely and cost-effective construction using advanced, sustainable materials. Its location—connected to key roads, airports, and Egypt’s high-speed rail network—will strengthen local supply chains and streamline logistics, WAM wrote.

Modon and Elsewedy are already onboarding anchor partners and industrial investors, prioritising Egyptian companies in key sectors. Early collaborators include:

• Elsewedy Electric, a regional leader in energy and water infrastructure
• 3S Ready Mix Concrete, part of Egypt’s Hassan Allam Group
• RAK Ceramics, a global ceramics brand founded in the UAE
• Hitech Concrete, a UAE-based firm under Trojan Construction Group

The zone will not only support the city’s construction phase but also establish a sustainable industrial base to boost year-round economic activity and contribute to Egypt’s GDP. It will serve as a springboard for regional expansion into export markets like Libya and Europe, according to WAM.

“This partnership represents a key milestone in realising the Ras El Hekma vision,” said Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding. “Collaborating with one of Egypt’s leading industrial developers reinforces our commitment to delivering this transformative project through meaningful regional partnerships.”

Mohamed AlKammah, CEO of Elsewedy Industrial Development, added, “Ras El Hekma Industrial Zone will be a model for smart industrial cities, attracting strategic industries while creating jobs and driving long-term economic growth.”

Ras El Hekma, spanning 170.8 million square metres, is being developed as a smart, sustainable city set to house up to 2 million residents. Appointed master developer by ADQ in 2024, Modon Holding is leading the delivery of this flagship project as part of its broader international expansion strategy.