Modon Holding, Hospitality Brand to Develop Luxury Destination in Egypt

04:29 AM EDT, 07/16/2026 (MT Newswires) -- Abu Dhabi's Modon Holding (ADX:MODON) partnered with lifestyle and hospitality brand Nammos Hotels & Resorts to build a luxury destination in Egypt's North Coast. The investment and real estate development company said Nammos Ras El Hekma will feature residences, a luxury resort, a restaurant, a beach club, and a retail village. The destination will be part of the $35 billion Ras El Hekma master plan to develop Egypt's North Coast, according to a Thursday release.