UAE's ADQ Consortium to Invest $35 Bn in Egypt
ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest $35 billion in Egypt. ADQ will acquire the development rights for Ras El-Hekma for $24 billion to develop the region into one of the most significant new city developments by a private consortium. ADQ will also convert $11 billion of deposits that will be utilized for investment in prime projects across Egypt to support its economic growth and development.