Egyptian Prime Minister Dr. Moustafa Madbouly inspected the Portaluna hotel and the Wadi Yemm project, both owned by the UAE's Modon Holding, to follow up on final preparations for the hotel's opening and the project's progress. The visit was part of his tour today to follow up on development projects in the city of New Ras El Hekma on the northwest coast, an Egyptian-Emirati partnership. He was accompanied by Minister of Housing, Utilities and Urban Communities Eng. Randa El Menshawy; Matrouh Governor Major General Dr. Mohamed El Zamlout; Jassem Al Zaabi, Chairman of the Abu Dhabi Department of Finance and Chairman of Modon Holding; and a number of Emirati officials.
Dr. Moustafa Madbouly said the work and executive plans being completed in Ras El Hekma are one of the main pillars of the comprehensive national strategy to drive sustainable urban and tourism development on the northwest coast. He noted that the pace of achievement and existing investment partnerships reflect the Egyptian state's strength and ability to attract more promising global investments and turn them into projects on the ground within record time, through an integrated system that has succeeded in creating an investment climate, speeding up procedures for investors and establishing Egypt as a leading tourism and development destination able to keep growing and face various challenges.
The Prime Minister noted the great importance of the joint projects with Modon Holding, one of the outcomes of the strategic partnership between Egypt and the UAE, stressing the major operational returns of these projects and their ability to maximize foreign direct investment flows to support the state's comprehensive development plans.
In this context, Minister of Housing Eng. Randa El Menshawy said the Ras El Hekma project is a model of the sustainable and smart cities the state is building on the northwest coast, to become a global investment, tourism, urban and services destination on the Mediterranean. She highlighted the importance of the investments and executive plans undertaken by Modon Holding, which directly bring the latest global standards in tourism and hotel services to the Egyptian market, open new development horizons that make the most of efficient infrastructure, and provide thousands of jobs for young Egyptians.
The Prime Minister and his delegation began the visit with a tour of the hotel's facilities, including a model hotel room, the Oriental and Western restaurants and the promenade. Meanwhile, His Excellency Jassem Al Zaabi, Chairman of the Abu Dhabi Department of Finance and Chairman of Modon Holding, explained that Portaluna is one of the Morgans Originals hotels within the Modon Hospitality portfolio.
Jassem Al Zaabi added that the hotel has 73 suites, 7 restaurants and a boutique resort located directly on the beach, as well as the latest facilities and services, reflecting the highest global standards in hotel and tourism services offered by the project.
Dr. Moustafa Madbouly and his delegation then went to the sales center, where he reviewed its components and images of the project, watched a documentary film about the Ras El Hekma project, and then inspected the simulation room.
The Prime Minister and his delegation then moved on to inspect works on the Wadi Yemm project, where he was briefed on the project's progress. The project includes 13 residential communities and 6 hotels, along with a wide range of world-class leisure and lifestyle facilities.
The presentation explained that the project also includes two championship golf courses (18 holes each), a 10,000-seat theater, a sports club and a 1.3-kilometer tourist promenade with many luxury shops and restaurants, as well as a 2.5-kilometer beach, a coastal park and five beach lagoons, with work on the project's various components progressing according to approved plans.
Company officials also reviewed the sales team's efforts, confirming that more than 3,500 units have been sold, reflecting demand for the project and growing customer confidence, and underlining the appeal of the Ras El Hekma project and the promising investment and tourism opportunities it offers.
In conclusion, the Prime Minister expressed his sincere thanks to Modon Holding, the Emirati officials and the Egyptian companies implementing these projects, which help establish Ras El Hekma and the northwest coast as a whole as one of the leading Mediterranean destinations. He praised the rapid pace of progress on the ground, the harmonious architectural design and the outstanding technical and construction quality across the various work sites, according to the official Facebook page of the Egyptian Cabinet.
