Abu Dhabi-listed developer Modon Holding and US-based ultra-luxury hospitality company Montage Hotels & Resorts have announced the launch of Montage Ras El Hekma within the $35 billion Ras El Hekma master plan on Egypt’s Mediterranean coast.

Modon Holding was appointed by ADQ, the Abu Dhabi sovereign investment and holding company, as the master developer of the mega project in October 2024.

Montage Ras El Hekma will include approximately 200 guestrooms and suites, and 96 branded villas ranging from three to six bedrooms under Montage Residences Ras El Hekma, with the latter introducing the first branded residences for purchase at Ras El Hekma, according to a press statement issued by Modon.

The resort and residences will be located within Wadi Yemm, the first of Ras El Hekma’s planned 17 precincts to move into active delivery.

Wadi Yemm is planned as a mixed-use cultural and hospitality district featuring the Ras El Hekma Lighthouse and an amphitheatre with capacity for approximately 10,000 guests to host cultural and entertainment events.

Construction cost and delivery timelines for the Montage project weren't disclosed in the statement.

Economic impact 

Ras El Hekma spans approximately 170.8 million square metres (sqm) along 44 kilometres of Mediterranean coastline. The development is expected to attract approximately $110 billion in investment by 2045.

The masterplan includes hospitality, leisure and cultural destinations, residential, educational and mixed-use districts, and a central business and financial district. Ras El Hekma will include marinas, cruise terminal facilities, new international airport, high-speed rail and highway connections

The destination will be within a four-hour flight radius of nearly half the world’s population.

Upon completion, Ras El Hekma is expected to contribute around $25 billion annually to Egypt’s gross domestic product and create approximately 750,000 jobs.

Montage Hotels & Resorts currently operates six ultra-luxury resorts and residences across the United States and Mexico, with additional projects planned in the Bahamas, Punta Mita and Valle de Guadalupe.

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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