Egypt receives first batch of $35bln from UAE for Ras El-Hekma project
Egypt has received the first batch of the $35 billion funds pledged by the UAE to finance the multi billion-dollar development of the country’s Mediterranean coast known as Ras El-Hekma
The portfolio acquisition comprises a multifamily community in New Jersey, and two senior housing properties in Orange County, California and Long Island, New York.
The agreement covers the construction and operation of a 360-kilometre railway linking the mining areas of Al-Shidiya and Ghor Al-Safi in Jordan to its Aqaba port.
