The acquisition is seen as a major step in Modon Holding’s drive to further diversify its global portfolio, with a special focus on luxury residential communities in high-demand international markets
The two entities are collaborating to build a network of community retail outlets, including hypermarkets, supermarkets, and other retail stores
The joint venture will build on Modon’s development pipeline as well as sites currently owned by Candy
The Ras El Hekma project is expected to drive significant economic growth, attracting $110bn in investment by 2045