Modon, Montage To Launch First Branded Residences In Egypt’s Ras El Hekma
KUALA LUMPUR, May 18 (Bernama) -- Abu Dhabi-based Modon Holding and Montage Hotels & Resorts announced the launch of Montage Ras El Hekma, introducing the first branded residences for purchase at Ras El Hekma on Egypt’s Mediterranean coast.
The development marks the first Montage resort in Egypt and forms part of the broader Ras El Hekma masterplan, which aims to develop the area into a global destination for tourism, leisure and business.
Modon Holding Group Chief Executive Officer (CEO), Bill O’Regan said the partnership aligns with the company’s vision of developing Ras El Hekma into a premium Mediterranean destination focused on long-term value and lifestyle experiences.
Meanwhile, Montage International Founder, Chairman and CEO, Alan J. Fuerstman said the project marks Montage’s entry into the Egyptian market and reflects the company’s broader international expansion strategy.
Montage Ras El Hekma will feature 200 guestrooms and suites, as well as 96 branded residences comprising three- to six-bedroom villas located within Wadi Yemm, the first precinct under the Ras El Hekma development.
The project will feature wellness and leisure facilities, including beachfront lagoons, a Spa Montage, dining venues, retail outlets, event spaces and a private owners’ clubhouse.
According to the statement, the project also marks the beginning of a broader partnership between Modon and Montage, with potential collaboration across other Modon destinations.
Montage Ras El Hekma forms part of the US$35 billion Ras El Hekma masterplan, spanning 170.8 million square metres along Egypt’s Northern Coast. (US$1 = RM3.94)
The development is expected to attract investments worth US$110 billion by 2045 and contribute about US$25 billion annually to Egypt’s gross domestic product upon completion, while creating around 750,000 jobs.
-- BERNAMA