Cairo, Egypt, 19 November 2024 – Modon Holding PSC (“Modon Holding”) has announced a strategic partnership with Hassan Allam Holding to explore opportunities for collaboration on large-scale construction projects in Egypt.
The memorandum of understanding (MoU) outlines plans to strengthen cooperation in the construction sector, with a focus on infrastructure, energy, and water and wastewater treatment, among other areas.
Commenting on the partnership, His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, stated:
> "This agreement marks another milestone in our journey of expansion into Egypt. It demonstrates our commitment to fostering partnership opportunities for the Ras El Hekma project, driving growth and diversification, and reaffirming our leadership position in the industry by setting new standards of excellence."
The partnership will also explore collaborations in utilities and infrastructure, with particular emphasis on delivering sustainable and resilient power, water treatment, and telecommunications infrastructure to ensure long-term operational success.
Hassan Allam, Group CEO of Hassan Allam Holding, expressed pride in the collaboration, saying:
"We are honored to partner with Modon, blending our construction expertise with their visionary projects. This collaboration on the Ras El Hekma project is a step forward in delivering world-class developments while advancing the region’s urban and economic aspirations. Together, we aim to seize transformative opportunities that enhance cities and improve quality of life. We deeply value this partnership and are committed to its success in delivering impactful projects."
Bill O'Regan, Group CEO of Modon Holding, emphasized the partnership's significance:
> "This collaboration strengthens our existing partnerships for the Ras El Hekma project, enhancing Modon’s capacity to deliver vibrant lifestyle communities. It will create immediate impact and long-term value for our residents and guests."
The agreement also highlights potential cooperation in construction and execution. Hassan Allam Holding may provide turnkey construction solutions, ensuring high standards of safety, quality, and sustainability across Modon’s projects.
Modon Holding develops vibrant communities, unique hospitality and lifestyle experiences, and world-class sports facilities. Headquartered in Abu Dhabi with an international outlook, Modon Holding is a Private Joint Stock Company listed on the ADX Growth Market, with ADQ and the IHC Group as its majority shareholders. The company’s diversified business portfolio in the UAE drives strategic investments and innovations that shape future smart living, aiming to deliver long-term, sustainable value through intelligent, connected communities.
Hassan Allam Holding is a leading group specializing in engineering, construction, investment, and development. Operating across sectors such as infrastructure, energy, water, industrial, logistics, and petrochemicals, the group has been delivering complex, large-scale projects in Egypt and the MENA region since 1936. Recognized as the oldest construction franchise in the region, the company is renowned for its technical capabilities and diversified portfolio. Over the past five years, it has completed over 70 projects, with a current backlog exceeding USD 6 billion. Hassan Allam Holding is ranked among the top 250 global contractors by Engineering News-Record (ENR).