GAFI awards Ras El Hekma project to Emirati consortium

Updated 2/8/2024 7:14:00 AM
GAFI awards Ras El Hekma project to Emirati consortium

Arab Finance: The General Authority for Investment and Free zones (GAFI) has settled on an Emirati consortium to carry out the Ras El Hekma tourist project in North Coast, GAFI’s Chairman Hossam Heiba told CNBC Arabia.

Heiba pointed out that the authority had received several offers from international consortia before deciding upon the Emirati one.

The project’s initial investments could surpass $22 billion, he added, pointing out that the investments would not be pumped in one tranche.

 

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