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Tag: Modon Holding

  • Modon and Montage Launch Luxury Resort at Egypt’s Ras El Hekma

    Modon and Montage Launch Luxury Resort at Egypt’s Ras El Hekma

    The project, named Montage Ras El Hekma, will feature 200 guestrooms and suites alongside 96 branded residences available for purchase within the wider Ras El Hekma master development on Egypt’s Northern Coast.

    The resort will include beachfront swimmable lagoons, a Spa Montage facility with 13 treatment rooms, six dining venues, retail areas, event spaces and an owners’ clubhouse designed for residents. The branded residences will consist of villas ranging from three to six bedrooms located within Wadi Yemm, the first precinct of the Ras El Hekma development to enter active delivery.

    Bill O’Regan, Group Chief Executive of Modon Holding, said the partnership aligned with the company’s plans to position Ras El Hekma as a Mediterranean destination focused on tourism, lifestyle and long-term investment value.

    Montage International Founder and Chief Executive Alan Fuerstman described the Egypt launch as a milestone in the hospitality group’s international expansion plans. The project marks the start of a broader partnership between Modon and Montage, with the companies indicating potential future collaborations across other Modon destinations.

    Ras El Hekma is being developed as a mixed-use coastal city spanning 44 kilometres of Mediterranean coastline and covering 170.8 million square metres. The masterplan includes residential districts, tourism infrastructure, marinas, cultural venues, a business district and transport links connecting the destination by road, sea and air.

    The $35 billion development is expected to attract $110 billion in investment by 2045, contribute around $25 billion annually to Egypt’s gross domestic product, and generate approximately 750,000 jobs upon completion, according to project estimates.

    The announcement follows Modon’s strong performance in Abu Dhabi, where the developer recently sold out Tara Park with AED2 billion in sales, reflecting sustained investor confidence in the emirate’s property sector.

  • Modon’s Tara Park Sells Out with AED2 Billion in Sales

    Modon has completed the sell-out of Tara Park on Reem Island, marking a significant milestone as the 834-apartment development generated approximately AED2 billion in sales. The achievement reflects sustained investor confidence in Abu Dhabi’s property sector as the emirate solidifies its position as a global safe-haven investment destination.

    “Tara Park further validates Modon’s disciplined, market-driven approach, connecting a prime location and thoughtful placemaking to generate sustainable urban growth and long-term value. We continue to see strong demand across the market, which speaks to the confidence that local and international buyers continue to place in Abu Dhabi, particularly for projects where clear attention to quality of life supports future investment potential,” said Bill O’Regan, Group CEO of Modon Holding.

    International Buyers Drive 60% of Demand

    The development attracted significant international interest, with approximately 60% of buyers originating from overseas markets. Russia, the United Kingdom, and India represented the leading sources of demand, demonstrating the project’s broad global appeal.

    Notably, 85% of buyers were first-time investors with Modon, underscoring both the strength of the development’s positioning and its success in expanding the developer’s international investor base.

    “The sell-out Tara Park sends a clear signal. Buyers are not hesitating. Buyers are making considered, long-term decisions. Tara Park was designed with clear buyer priorities and needs in mind, and the market response has validated that approach entirely,” said Ibrahim Al Maghribi, CEO of Modon Real Estate.

    Premium Location with Integrated Amenities

    Tara Park comprises six residential towers offering one-, two-, and three-bedroom apartments. The towers are connected by an active podium that provides residents with access to a wide range of amenities and direct connectivity to Reem Mall.

    The development’s strategic location offers proximity to Fay Park, Sorbonne University Abu Dhabi, and Repton School, alongside easy access to Abu Dhabi Global Market (ADGM), The Galleria Mall, and the wider city center.

    The sell-out coincides with record-breaking performance across Abu Dhabi’s residential market, which delivered its second-strongest quarter on record in Q1 2026. Transaction volumes in Abu Dhabi City exceeded 7,200 deals, just below the all-time peak of 7,600 recorded in Q4 2025, according to Savills’ latest Market in Minutes report.

    As ultra-high-net-worth individuals continue to increase across the UAE, developments like Tara Park demonstrate sustained appetite for quality residential projects in prime locations. The capital’s momentum reflects broader confidence in the UAE’s economic resilience and long-term growth trajectory.