Will Ras El Hekma dollars revive the Egyptian pound?. The UAE expects to invest at least $150 billion throughout the duration of the project’s implementation.
The project will generate $35 billion within two months, including $24 billion in direct liquidity, and $11 billion in Emirati deposits. There are expectations that the huge city will attract at least 8 million additional tourists to Egypt. A presidential decision was issued in 1975 to evacuate the village of its residents, which has an area of 55 thousand acres. The decision was not implemented until the project reappeared in 2015.