In 2024, Egypt signed an unprecedented 35 billion USD foreign direct investment agreement with the United Arab Emirates (ADQ) to develop which Mediterranean coastal mega-resort and international financial center?
Answer and explanation
Correct answer: D. Ras El Hekma
- Step 1: In February 2024, the Egyptian government signed a landmark 35 billion USD agreement with Abu Dhabi sovereign investor ADQ to develop the Ras El Hekma peninsula.
- Step 2: Covering 170 square kilometers on the northwestern Mediterranean coast, the project plans a world-class smart tourism destination, free zone, international airport, and financial district.
Answer
Ras El Hekma.
Why not the others: 'Sidi Abdel Rahman' is an established bay developed by Emaar; 'El Gouna' is a private resort town on the Red Sea coast; 'Marsa Alam' is in southern Red Sea Governorate.
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