(MENAFN) In a significant move aimed at bolstering infrastructure and connectivity, Egypt has earmarked a sprawling 7.5 million square meters of government-owned land along the northwestern coast of Matrouh Governorate for the establishment of a cutting-edge international airport. President Abdel Fattah El-Sisi has issued Resolution No. 152 of 2024, formally allocating approximately 1,785.35 acres, equivalent to the aforementioned area, for the Ministry of Civil Aviation. This allocation adheres strictly to existing regulations and laws governing such ventures.
This ambitious initiative, known as the Ras Al-Hikma project, marks a monumental milestone in Egypt's economic landscape, representing the largest direct investment deal in the country's history. Spearheaded by a partnership between the Ministry of Housing, Utilities, and Urban Communities, under the aegis of the New Urban Communities Authority, and the UAE Holding Company (ADQ), the project promises substantial growth and development prospects.
What sets Ras Al-Hikma apart is its prime location, strategically positioned along the North Coast region. Spanning from the Dabaa area at Kilometer 170 on the Northwest Coast Road to Kilometer 220 in Matrouh City, its pristine beaches and coastal allure make it a compelling destination for investment and tourism alike. This strategic placement not only enhances accessibility but also underscores its potential as a pivotal hub for both domestic and international travelers, further cementing Egypt's position on the global map of aviation and tourism.
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