meed-logo

line1 line2 line3
SIGN IN / REGISTER

Modon tenders Ras El-Hekma construction contracts

6 February 2026

 

Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.

MEED understands that the tenders were issued in January.

These include:

DP3 assets: covering 146 residential villas, 590 three-bedroom townhouses, 356 four-bedroom townhouses, a mall and other associated works.

Bids due on 23 February.

DP4 assets: DP4 includes 54 villas, a clubhouse and other associated infrastructure.

Bids due on 2 March.

DP5 assets: The scope covers the construction of two hotels, branded residences, a retail facility and other associated works.

Bids due on 10 March.

DP6 assets: This package covers a 200-key Montage hotel, 96-unit Montage-branded residences and related infrastructure.

Bids due on 17 March.

DP7 assets: 120 five-bedroom villas, 230 seven-bedroom villas, 284 branded residential units and other infrastructural works.

Bids due on 3 March.

MEED understands that the contract duration for all these packages is 21 months from the start of construction.

Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.

The contract was awarded to the local firm Orascom Construction.

The scope of the contract covers the construction of residential units, commercial facilities and a 70-key hotel.

In September, MEED reported that Modon Holding had tendered contracts for the infrastructure works for the first phase of the Ras El-Hekma project.

As part of the first phase, Modon plans to develop more than 50 million square metres (sq m), including hotels and a marina.

Ras El-Hekma is on a spur of land on Egypt’s northern Mediterranean coastline, about 240 kilometres west of Alexandria.

Last year, Abu Dhabi-based holding company ADQ appointed Modon Holding as the master developer for the Ras El-Hekma project.

According to an official statement, Modon will act as the master developer for the entire development, which will cover more than 170 million sq m. 

Modon Holding will develop the first phase of the project, which will cover 50 million sq m.

The remaining 120 million sq m will be developed in partnership with private developers under the supervision of the recently established ADQ subsidiary Ras El-Hekma Urban Development Project Company and Modon Holding.

In September 2024, Modon signed several memorandums of understanding (MoUs) with local and international firms to join the development. It signed a framework agreement with Orascom Construction to serve as the primary contractor for the project’s first phase. 

Ras El-Hekma is planned as a combined business and leisure destination, with hotels, leisure facilities, a free zone, a financial district and residential components.

The master development has been billed as capable of attracting over $150bn in investment.

READ THE FEBRUARY 2026 MEED BUSINESS REVIEW – click here to view PDF

Spending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.

Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
To see previous issues of MEED Business Review, please click here
https://image.digitalinsightresearch.in/uploads/NewsArticle/15593388/main.jpg
Yasir Iqbal

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles