Abu Dhabi-based Modon Holding (MODON) will develop an integrated lifestyle destination with Greek hospitality operator Nammos Hotels & Resorts at Ras El Hekma on Egypt's North Coast, Emerging Travel reported on July 16.

The project adds a recognised international brand to a masterplan that has produced more announcements than completed buildings. Ras El Hekma is the centrepiece of the UAE's $35bn commitment to Egypt made in 2024, and precinct-level brand signings are among the clearest available markers of construction progress.

Nammos Ras El Hekma will sit within Wadi Yemm, the first of the masterplan's 17 precincts to enter delivery. It will combine 72 apartments ranging from one to four bedrooms plus a penthouse, a 79-key resort across five room categories, a retail village, and a restaurant and beach club.

The development marks the Nammos brand's first fully integrated destination in Egypt. Nammos built its name on a beach club in Mykonos and trades primarily on daytime food and beverage spend rather than room nights.

"Ras El Hekma is fast emerging as one of the Mediterranean's most ambitious destinations, and the progress we have made to date reflects the scale of our long-term vision," said Bill O'Regan, group chief executive of Modon Holding.

"Egypt's North Coast is rapidly establishing itself as a world-class destination, and Ras El Hekma provides an exceptional platform for the continued expansion of the Nammos brand," said Petros Stathis, chairman of Nammos, the report noted.

The wider Ras El Hekma masterplan covers 170.8mn square metres across 44 km of Mediterranean coastline and is expected to draw $110bn of investment by 2045. Plans include a new international airport linked to high-speed rail, a cruise terminal, and a central business and financial district.

Modon is listed on the Abu Dhabi Securities Exchange and operates across real estate, hospitality, asset management, events, catering and urban infrastructure.