The History of UAE investments in Egypt

24/3/2024

Sheikh Zayed City
Healthcare Projects
Commercial Bank
Ras AlHekma

After the announcement of the Ras Al Hikma deal, the most important and strongest in the history of Egypt, it is important to know the history of Emirati investment in Egypt through projects and the reasons for pumping investments into it. Therefore, the UAE comes as one of the first Arab countries to invest in Egypt, and the projects are still increasing. The size of Emirati investments in 2023 reached 28 billion dollars in various fields such as tourism, education, food industries, construction and real estate development.

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Sheikh Zayed City

Let's start with Sheikh Zayed City, which was established as a project in 1995 with a grant from the Abu Dhabi Development Fund. It was named after the former UAE President "Sheikh Zayed bin Sultan Al Nahyan" in appreciation of his services to Egypt in terms of investments and services. The investment was in the form of service facilities such as schools, hospitals, mosques, universities, and residential cities. A large part of the investments was also pumped into the infrastructure, which is still strong to this day.

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Healthcare Projects

One of the most important Emirati investments was at the beginning of 2018. The Emirates Healthcare Group, a subsidiary of the "KBBO" Group, signed a partnership agreement with the "Alameda" Healthcare Group in Egypt, which owns a large percentage of hospitals in Egypt, such as Dar Al Fouad and Al Salam International Hospitals, a specialized center for digestive diseases and liver care, and Elixir Center for Digestive Care.

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Commercial Bank

Then in 2022, investments were made in shares in the Commercial Bank, Abu Qir Fertilizers and Fawry. The Holding Company, one of Abu Dhabi's sovereign wealth funds, acquired shares in 5 companies listed on the Egyptian Stock Exchange, namely the Commercial International Bank, Fawry Company, Alexandria Container Handling, Mobico, and Abu Qir Fertilizers.

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Ras AlHekma

Ras Al Hekma is known for its large residential and tourist projects, but the project of the Emirati developers is supposed to change the course of the region and be the first seed for more foreign tourist investments in the North Coast region. These areas were also distinguished by their view of the Mediterranean Sea and the state's interest in the infrastructure in all areas of Ras Al Hekma. This is considered one of the most important reasons for attracting investors to Ras Al Hekma.

We are still looking forward to more Emirati and foreign investment projects in Ras Al Hekma and other areas, especially with Egypt's distinction with luxurious tourist areas with distinctive views.

Here are some of the most important Emirati investments in Egypt:

Sheikh Zayed City (1995)

Emirates Healthcare Group partnership with Alameda Healthcare Group (2018)

The Holding Company acquiring shares in 5 companies listed on the Egyptian Stock Exchange (2022)

Ras Al Hekma City (2023)

The reasons for the Emirati investment in Egypt are:

The strong relations between Egypt and the UAE

The stability of the Egyptian political and economic situation

The availability of investment opportunities in various sectors

The Egyptian government's efforts to attract foreign investments

The impact of Emirati investments in Egypt:

Creating job opportunities