Fintech PR
A Major Gas Find Could Upend European Energy Markets
FN Media Group Presents Oilprice.com Market Commentary
LONDON, March 14, 2024 /PRNewswire/ — As Europe realizes the full risk of relying on foreign oil and gas, it could soon find relief coming from an unexpected source. That’s because, after years of leaning on cheap Russian gas, geopolitical shifts have changed the equation. Both the war in Ukraine and simple economics have forced the EU to pivot from strict green energy policies. Companies mentioned in this release include: Chevron Corporation (NYSE: CVX), ExxonMobil Corporation (NYSE: XOM), ConocoPhillips (NYSE: COP), Talos Energy Inc. (NYSE: TALO), Cheniere Energy, Inc. (NYSE: LNG).
The Wall Street Journal reports, ‘Europe cuts addiction to Russian oil.’ And The Washington Post announced recently, ‘Amid energy crisis, EU says gas can sometimes be ‘green.”
The message is clear: Europe is scrambling to diversify its energy sources and achieve true energy independence.
For decades, prime targets for natural gas have gone completely overlooked.
That’s why one Canadian energy company, MCF Energy (MCF.V; MCFNF.QX), is on a mission to help secure Europe’s energy independence and explore these long-ignored assets. And with the acquisition of a proven target in Germany, the landscape could shift dramatically in the coming months.
MCF Energy Targets Overlooked Natural Gas Reserves in Germany
MCF Energy announced several major new acquisitions in Germany. The company has secured rights to four key assets to date.
The company is specifically targeting their concession at Lech , which spans about 10 square kilometers in Bavaria. That’s because the property holds 3 wells already drilled decades ago, with two confirming discoveries of natural gas.
In the early 1980s, Mobil Oil began drilling in search of oil at the property and discovered a primary gas reservoir. At the time, testing showed a maximum flow rate of 24 million cubic feet per day (MMCFD) of natural gas with associated condensate.
Now, with 3D imaging and proprietary AI and machine learning technology, MCF Energy (MCF.V; MCFNF.QX), plans to pinpoint even more promising locations at the property.
Specifically, they’ll use this data to target more high-value prospects on their Lech East site, which adds another 100 square kilometers. Based on the imaging, the team has already keyed in on multiple locations, with potentially more to come once drilling commences in Q1.
By leveraging the millions of dollars that Mobil Oil spent on this 3D seismic imaging, MCF Energy could soon play a key role in helping wean Europe off its addiction to Russian gas.
Industry Trailblazers Primed to Capitalize on Europe’s Overlooked Potential
MCF Energy is led by CEO James Hill, a seasoned geologist with over 40 years of experience exploring and developing assets across North America and Europe. Among Mr. Hill’s long list of projects is one of the largest onshore oil fields ever found in Europe, at the Patos Marinza Oil Field in Albania where production was increased over 2000%. After a successful career, Hill had retired. But because of the size of the opportunity at hand, his retirement was short-lived.
With Russia’s invasion and the EU’s pivot to classify natural gas as ‘green energy’, Hill and his team are uniquely positioned to tap into Europe’s vast, overlooked oil and gas reserves.
In 2022, they began six months of due diligence, conducted on 20 assets. Since then, MCF Energy has acquired rights to Europe’s most high-priority and high-conviction locations.
That includes the four assets in Germany through the strategic acquisition of a private German company, Genexco. The move gives MCF Energy not just the proven assets drilled by Mobil decades ago. It also provides a team of experts with inside knowledge of both the terrain and how to navigate complex zoning and licensing processes in Europe.
With drilling set to commence this quarter at their Lech concession, pipelines are located less than 2 km away to bring energy throughout Europe. That makes transportation significantly easier and more economical for MCF (MCF.V; MCFNF.QX) if they discover the volumes of natural gas that they expect, given the past results and 3D data.
A Trillion Cubic Feet of Natural Gas in Austria?
MCF Energy’s leadership has been vocal about their confidence in a major discovery in Germany due to Mobil’s past work there. But the company’s most exciting prospect could come from MCF Energy’s other recent acquisition in Austria.
The company recently acquired rights to the Welchau prospect near the Austrian Alps.It covers 100 square kilometers and includes a large anticline structure, a large bump similar to what’s found in the Kurdistan Region of Iraq or the Italian Apennines.
In the 1980s, an Austrian oil and gas company, OMV, drilled the Molln #1 on the side of this structure, 5 kilometers away from MCF Energy’s well location at Welchau and discovered the presence of gas and condensate.
LIVE DRILLING UPDATE: 03/11/2024 – MCF Energy has just confirmed an active petroleum system at the Welchau-1 well site. The well successfully reached a depth of 1155 metres on March 10 and drilling to the main target is underway with completion anticipated by month end. CEO of MCF Energy, James Hill, said, “The drilling results so far are very promising, and the indications of gas and heavier hydrocarbons are particularly encouraging for us.” Read the full release here
Gaffney and Cline’s analysis suggests that the property could produce up to 584 billion cubic feet of gas on a best-case level, with 10 million barrels of oil. But Hill believes that, if the seal is as good as it appears, that number could nearly double to the reported 1 TCF of gas and 18 million barrels of oil.
If MCF Energy (MCF.V; MCFNF.QX) discovers anywhere near that volume of gas, especially just 18 kilometers from a national pipeline, it could be transformative for Europe’s energy crisis.
Other companies to keep an eye on:
Chevron Corporation (NYSE: CVX), a titan in the global energy market, demonstrates an unwavering commitment to leading the natural gas sector through significant investments in exploration, production, and distribution. Chevron’s strategic involvement in major LNG projects across Australia and Africa is a testament to its ambition to dominate this crucial energy sector.
In parallel, Chevron’s prowess in the oil sector remains foundational to its operations. The company boasts extensive reserves and a robust downstream presence, underpinned by a commitment to efficiency and sustainability.
Exxon Mobil Corporation (NYSE: XOM)‘s influence on the global energy stage is profound, with strategic investments in the natural gas sector positioning it as a leader in this rapidly evolving market. The company’s engagement in LNG projects and shale gas exploration highlights its commitment to meeting the world’s shifting energy consumption patterns.
Simultaneously, Exxon Mobil’s legacy in the oil sector continues to be a significant driver of its revenue, with global operations marked by an unyielding pursuit of operational excellence.
ConocoPhillips (NYSE: COP) has adeptly balanced its energy portfolio between natural gas and oil, reflecting a nuanced understanding of the world’s changing energy consumption trends. The company’s strategic investments in natural gas, particularly in North America and Asia, highlight its commitment to securing a leadership position in this increasingly important sector.
At the same time, ConocoPhillips’ commitment to oil exploration and production remains unwavering. The company’s operations, which span multiple continents, are a testament to its industry leadership and commitment to sustainable production methods.
Talos Energy Inc. (NYSE: TALO) marks its presence in the exploration and production sector with a focused approach on the United States Gulf of Mexico and offshore Mexico, showcasing its prowess in tapping into the significant oil and natural gas resources of these regions.
Talos Energy’s commitment to sustainability and reducing its environmental impact is central to its operations. The company’s involvement in carbon capture initiatives and its continuous exploration of technological advancements to minimize its ecological footprint reflect a forward-thinking approach to energy production.
Cheniere Energy, Inc. (NYSE: LNG) is a pioneering force in the liquefied natural gas (LNG) sector in the United States, boasting one of the country’s inaugural LNG export facilities. With a business model that covers the entire LNG value chain, Cheniere is strategically positioned to leverage the increasing global demand for natural gas, recognized as a pivotal cleaner energy source.
Cheniere’s efforts to enhance the environmental performance of its operations reflect a broader commitment to facilitating the transition to a lower-carbon future, aligning with global energy trends and consumer expectations for more sustainable energy solutions.
By Charles Kennedy
**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**
Forward-Looking Statements
This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that large oil and gas companies will continue to focus on offshore natural gas resources; that domestic onshore natural gas assets in Europe will provide a more affordable energy source than offshore resources; that demand for natural gas will continue to increase in Europe and Germany; that Russia will not supply the majority of natural gas in Germany and Europe; that natural gas will continue to be utilized as a main energy source in Germany and other European countries and demand for natural gas, and in particular domestic natural gas, will continue and increase in the future; that MCF Energy Ltd. (the “Company”) can replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company will be successfully tested and developed; that the Company can develop and supply a safe, domestic source of energy to European countries; that natural gas will be reclassified as sustainable energy which will support the development of the Company’s assets; that imports of liquified natural gas will not be sustainable for Europe and that European countries will need to rely on domestic sources of natural gas; that the Company expects to obtain significant attention due to its upcoming drilling plans combined with Europe desperate for domestic natural gas supply; that the upcoming drilling on the Company’s projects will be successful; that the Company’s projects will contain commercial amounts of natural gas; that the Company can finance ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that large oil and gas companies will start focusing on the development of domestic natural gas resources; that the natural gas resources of competitors will be more successful or obtain a greater share of market supply; that offshore liquified natural gas assets will be favored over domestic resources for various reasons; that alternative technologies will replace natural gas as a mainstream energy source in Europe and elsewhere; that demand for natural gas will not continue to increase as expected for various reasons, including climate change and emerging technologies; that political changes will result in Russia or other countries providing natural gas supplies in future; that the Company may fail to replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company may fail to be successfully tested and developed; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to develop and supply a safe, domestic source of energy to European countries; that natural gas may not be reclassified as sustainable energy or may be replaced by other energy sources; that the upcoming drilling on the Company’s projects may be unsuccessful or may be less positive than expected; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to finance its ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated; that the Company may be unable to finance its ongoing operations and development; that the business of the Company may be unsuccessful for various reasons. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
DISCLAIMERS
This communication is for entertainment purposes only. Never invest purely based on our communication. We have not been compensated by MCF Energy Ltd. for this article but may in the future be compensated to conduct investor awareness advertising and marketing for MCF Energy Ltd. While the opinions expressed in this article are based on information believed to be accurate and reliable, such information in our communications and on our website has not been independently verified and is not guaranteed to be correct. The content of this article is based solely on our opinions which are based on very limited analysis and we are not professional analysts or advisors.
SHARE OWNERSHIP AND NOTIFICATION OF BIAS. The owner of Oilprice.com owns shares of MCF Energy Ltd. and therefore has an incentive to see the featured company’s stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of MCF Energy Ltd. in the market. The owner of Oilprice.com will be buying and selling shares of this issuer for its own profit. Accordingly, our views and opinions in this article are subject to bias, and why we stress that you should conduct your own extensive due diligence regarding the Company as well as seek the advice of your professional financial advisor or a registered broker-dealer before you consider investing in any securities of the Company or otherwise.
NOT AN INVESTMENT ADVISOR. Oilprice.com is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. You should not treat any opinion expressed herein as an inducement to make a particular investment or to follow a particular strategy, but only as an expression of opinion. The opinions expressed herein do not take into account the suitability of any investment with your particular objectives or risk tolerance. Investments or strategies mentioned in this article and on our website may not be suitable for you and are not intended as recommendations.
ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making any investment. This communication should not be used as a basis for making any investment in any securities. Past performance is not indicative of future results.
RISK OF INVESTING. Investing is inherently risky. Do not trade with money you cannot afford to lose. There is a real risk of loss (including total loss of investment) in following any strategy or investment discussed in this article or on our website. This is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction. No representation is being made as to the future price of securities mentioned herein, or that any stock acquisition will or is likely to achieve profits.
DISCLAIMER: OilPrice.com is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein. The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact e-mail: [email protected] U.S. Phone: +1(954)345-0611
View original content:https://www.prnewswire.co.uk/news-releases/a-major-gas-find-could-upend-european-energy-markets-302089007.html
Fintech PR
Universal Consulting Opportunities (UCO) Enters European Market as Exclusive Strategic Advisor to MLS Leader in Romania
UCO Leverages Its Expertise to Further MLS Leader’s Mission to Grow the MLS Concept and Enhance the Real Estate Industry for Professionals and Consumers
ALTAMONTE SPRINGS, Fla., Oct. 4, 2024 /PRNewswire/ — UCO, a subsidiary of Stellar MLS, a leading multiple listing service (MLS) in the U.S. and the fastest-growing in the world, has announced an agreement with MLS Leader to be its exclusive MLS strategic advisor in Romania. By sharing its expertise and experience, UCO will advance MLS Leader’s vision of being the leading MLS in the Romanian real estate marketplace.
MLS Leader has worked closely with the communities of real estate brokers and agents for more than a decade, continuously taking on the role of education and regulation, to build a transparent real estate market in the interest of real estate professionals, clients, and the general public. Being the source of information about properties and real estate transactions in Romania, MLS Leader’s mission is to provide real estate professionals a way to excel in their profession and offer valuable services at every step of their activities.
Through UCO, Stellar MLS brings its strategic experience in the MLS global realm to augment MLS Leader’s operational and technological expertise and will advise MLS Leader to enhance its innovative platform and services while building its membership of professionals within the real estate community of the European Union’s sixth most populous country.
“We’re proud to collaborate with MLS Leader on this important vision to promote a more transparent and efficient real estate market in Romania and beyond,” said Merri Jo Cowen, CEO of Stellar MLS and UCO. “Our team is focused on the MLS and supporting real estate professionals in Europe and across the globe.”
“As the pioneering MLS service in Europe, founded in 2007, MLS Leader (powered by Flexmls) has built a system that empowers real estate companies to successfully implement the MLS and exclusive representation model in a market beyond North America,” said Sorin Udrea, Founder and General Manager of MLS Leader.
“We are widely regarded as the most trusted source of market data in Romania, supporting agents with essential tools like CMA, market statistics, and client portals for buyer representation. With UCO as our strategic advisor, we are excited to accelerate our efforts toward establishing MLS Leader as the premier marketplace for real estate professionals specializing in exclusive representation in Romania.”
Cowen emphasized the expertise and dedication of UCO’s team of globally recognized business leaders, which includes Marion Weiler, UCO Vice President of Global Markets and Stellar MLS Vice President of Marketing and Communications, and Dr. Mathew Kallumadil, UCO Vice President of Global Markets and Stellar MLS Vice President of Technology and Innovation, in reaching this important milestone.
UCO has been actively engaged in global forums in France and Germany to support a forward-thinking approach to transforming the real estate industry. In October, UCO is a title partner of the International MLS Forum in Milan, where representatives of 45+ global markets will meet to understand and develop the MLS concept to bring about trust and transparency. UCO’s presence is supported through its partnerships with CEPI, the European Association of Real Estate Professions, and FIABCI, the International Real Estate Federation.
About UCO
With a mission to support real estate professionals across the globe, UCO offers expertise including but not limited to market entry, MLS development, and cross-border transactions. This expertise stems from a management team with over 100 years of combined experience in the real estate industry, including globally recognized business leaders who have worked with world-class organizations, and international professionals with 40 years of collective global experience, many of whom are fluent in multiple languages. By collaborating with global organizations like CEPI and FIABCI, UCO delivers tailored solutions to help real estate markets thrive globally, with an emphasis on trust, transparency, innovation, and sustainable growth. Whether you are enhancing existing operations or building new ones from the ground up, UCO is committed to helping real estate markets thrive – UCO specializes in meeting clients’ unique needs, wherever they may be in their MLS journey.
About MLS Leader (Powered by Flexmls)
Founded in 2007, MLS Leader is the first genuine multiple listing service in Europe, offering real estate professionals in Romania advanced tools to enhance market transparency and efficiency. MLS Leader’s mission is to empower real estate agents and appraisers with the resources to excel in their work and provide valuable services at every stage. By promoting the exclusive representation model, MLS Leader offers a robust platform that includes tools and information needed for successful real estate agency management, along with access to reliable market data, competitive analysis (CMA), and advanced client communication systems.
UCO Media Contact: Caryn McBride
Co-Communications
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/universal-consulting-opportunities-uco-enters-european-market-as-exclusive-strategic-advisor-to-mls-leader-in-romania-302267989.html
In the presence of Mohamed bin Zayed Al Nahyan and Abdel Fattah El-Sisi
- The event marked the signing of several significant agreements aimed at driving the development of the new destination
ABU DHABI, UAE, Oct. 4, 2024 /PRNewswire/ — In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, ADQ, an Abu Dhabi-based investment and holding company, appointed Modon Holding PSC as the master developer for the Ras El Hekma megaproject.
In addition to being master developer for the entire development spanning 170 million square metres, Modon Holding will undertake the responsibility of the developer role for the first phase of the envisaged city consisting of 50 million square metres.
The remaining 120 million square metres, which are part of the master plan presented by Modon Holding, will be developed in partnership with prominent developers from Egypt, the UAE, and the international community under the oversight of the recently established ADQ subsidiary Ras El Hekma Urban Development Project Company and Modon Holding.
This iconic project represents a major milestone for Modon Holding by significantly increasing its land under development outside the UAE. Ras El Hekma is located around 350 kilometres northwest of Cairo and envisioned as a fully functional, smart, sustainable, and inclusive urban community situated against the scenic coastline.
The project is expected to become a powerful economic engine, with cumulative investments anticipated to reach US$110 billion by 2045, an annual GDP contribution of around US$25 billion, and approximately 750,000 jobs to be created, both directly and indirectly.
Upon completion, the development will be home to two million people and feature more than 40 kilometres of green spines, set to make Ras El Hekma the greenest megaproject in the region.
As a result of Ras El Hekma’s location within a four-hour flight for over 400 million outbound tourists, the establishment of tourism infrastructure will be a priority during the first phases of the development, encompassing an international airport as well as high-speed rail connectivity. The masterplan also includes residential areas, office spaces, hospitality venues, retail, leisure, and recreation facilities.
Ras El Hekma will have an international marina and a special free zone. Additionally, Modon Holding will look to develop infrastructure to support a range of high-growth industries, including business services, financial services, light manufacturing, and technology.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said, “Ras El Hekma is destined to become a regional crown jewel in a country already famed for its rich and diverse attractions. Modon Holding is proud to bring this 170-million-square-metre visionary megaproject to life, leveraging our expertise and innovative approach. With our partners, we are poised to transform Ras El Hekma into a dynamic economic powerhouse and a global model for urban development.”
His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ, said, “As a project of unprecedented scale and impact, Ras El Hekma will be a catalyst for the development of Egypt’s economy by offering opportunities for businesses and stimulate tourism. Modon Holding brings a wealth of expertise in master planning and will pioneer state-of-the-art, innovative solutions, creating a destination that will deliver long-term value for Egypt and its people.”
Bill O’Regan, Group CEO of Modon Holding, said, “The Ras El Hekma destination is one of the Group’s most significant investment and development projects outside the UAE. The project provides an incredible development pipeline, and Modon Holding looks forward to delivering a destination that will be an exceptional experience for visitors and residents alike.”
During the ceremony, Modon Holding PSC engaged with the initial major partners to join in the development of the Ras El Hekma megaproject on Egypt’s stunning Mediterranean coast.
Ras El Hekma is set to become a leading urban and tourist hub, boasting a wide array of attractions and amenities. Modon Holding aims to harness its large-scale development expertise, collaborating with local, regional, and global partners to bring this visionary destination masterplan to life.
These collaborative efforts, combined with a focus on diverse entertainment, sports, cultural events, and top-tier community management, will position Ras El Hekma as a premier Mediterranean destination.
While the immediate focus is on tourism and hospitality, Modon’s long-term vision for the 170-square-metre site also includes business services, financial services, light manufacturing, and technology.
Modon Engages First Batch of Investors and Partners in Landmark Ceremony
On 4th October, in a momentous ceremony attended by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President His Excellency Abdel Fattah El-Sisi, Modon proudly initiated the engagement of its first group of investors and partners.
The event marked the signing of several significant agreements aimed at driving the development of the new destination:
– A framework agreement with Orascom Construction, designating them as one of the primary contractors for the initial phase of the project.
– A memorandum of understanding with Elsewedy Electric to explore opportunities for supplying building materials and collaborating on industrial parks, manufacturing, operations, and maintenance.
– A memorandum of understanding with Abu Dhabi Airports to collaborate in airport strategic planning, design, development, and operational support.
– A memorandum of understanding with TAQA to explore cooperation opportunities in relation to the development, financing, and operation of greenfield utilities infrastructure projects, water desalination projects, electricity transmission and distribution projects and wastewater projects.
– A memorandum of understanding with Valderrama for the development and operation of golf communities.
– A memorandum of understanding with e& Egypt to facilitate the design and implementation of smart city infrastructure, including digital connectivity, fiber networks, and 5G; smart building technologies and IoT-enabled solutions for residential and commercial properties; city-wide data collection, monitoring, and analytics systems; smart utilities, encompassing automated energy management, water, and waste systems; smart transportation systems; and any other mutually agreed smart city services.
– A memorandum of understanding with Candy International aims to explore luxury real estate development opportunities, leveraging Candy’s extensive international reach.
– A memorandum of understanding with Montage International for the development and management of luxury hotels in Ras El Hekma.
– A memorandum of understanding with Accor and Ennismore to operate hotels and resorts in Ras El Hekma.
– Finally, a memorandum of understanding with Burjeel Holding to develop multi-specialty healthcare facilities, implement innovative healthcare solutions, provide medical training programmes, and collaborate on public health initiatives and community wellness programmes.
These strategic partnerships underscore Modon’s commitment to creating a world-class destination, fostering innovation, and enhancing the quality of life for Ras El Hekma’s future residents.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi, said, “Ras El Hekma represents a visionary and multifaceted endeavour that promises to make a substantial contribution to the Egyptian economy. Crafting a masterplan of such scale demands specialised expertise and capabilities across diverse industries, which can only be realised through robust strategic partnerships. We look forward to working with our partners present and future in harnessing the full potential of this extraordinary location.”
Bill O’Regan, said, “Ras El Hekma is an extraordinarily ambitious and complex project that will significantly contribute to the Egyptian economy through various stages of planning, design, and construction, ultimately bringing this new destination to life. Developing and delivering a masterplan of this magnitude requires sector-specific expertise and capabilities across a wide range of industries and is achievable only through strong strategic partnerships.”
About ADQ
Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. Its investments span key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences, and transport and logistics, amongst others. As a strategic partner to the Government of Abu Dhabi, ADQ is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.
For more information, visit adq.ae or write to [email protected]. You can also follow ADQ on Instagram, LinkedIn and X.
About Modon Holding
Modon develops vibrant communities, unique hospitality and lifestyle experiences, and world-class sports facilities. Based in Abu Dhabi, Modon Holding is a Private Joint Stock company listed on the ADX Growth Market with the shareholding of ADQ and the IHC Group being our majority shareholders. Through a diversified business portfolio in the UAE, we are engaged in strategic investment and innovation on an unrivalled scale, shaping future smart living. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.
Ras El-Hekma Urban Development Project Company
A wholly owned subsidiary of ADQ, an Abu Dhabi-based investment and holding company, Ras El Hikma Urban Development Project Company S.A.E. (RED) is mandated to oversee the execution of the Ras El Hekma project, a 170 million square meter visionary megacity located on Egypt’s north coast. Established in March 2024 and based in Egypt, RED holds the ownership rights of the Ras El-Hekma as well as responsibility for the implementation of the multi-phase project together with its partners, which include Modon Holding as the master developer.
Photo – https://mma.prnewswire.com/media/2523688/Modon_ADQ.jpg
View original content:https://www.prnewswire.co.uk/news-releases/adq-appoints-modon-as-master-developer-for-ras-el-hekma-megaproject-in-egypt-302267927.html
BEIJING, Oct. 4, 2024 /PRNewswire/ — October 1, 2024, marked the 75th anniversary of the founding of the People’s Republic of China (PRC). The People’s Daily released a documentary that tells how, over the past 75 years, the country has embarked on an arduous journey of national development and modernization, transforming itself from a struggling agrarian nation into the world’s second-largest economy. China has made strides in not only enhancing the well-being of its people but also delivering benefits to the rest of the world through its own development. This video demonstrates how China’s development promotes the cause of human peace and development, and how it contributes to the building of a community with a shared future for mankind.
Video – https://mma.prnewswire.com/media/2523470/Peoples_Daily.mp4
View original content:https://www.prnewswire.co.uk/news-releases/prc-at-75–peoples-daily-releases-a-documentary-the-train-to-the-future-302267752.html
-
Fintech PR5 days agoNereus Finance Unveils Innovative Prediction Markets with 50x Leverage, Starting with U.S. Presidential Election Instruments
-
Fintech5 days agoTechnology Pushes the boundaries of online payments in 2024: MDC examines biometric payments
-
Fintech PR4 days agoCambridge Scientists Secure $5M from Leading Global Venture Capital Funds and Corporations to Transform Scope 3 Decarbonization
-
Fintech PR3 days agoCurve Pay Introduces 1% Cashback for International Spending, Eliminating Foreign Transaction Fees – The Only Global Wallet That Allows Payments Like a Local
-
Fintech4 days agoDrofa Comms and CryptoUK Boosting Crypto Education in the UK with New Initiative
-
Fintech PR3 days agoNAGA Launches New ‘Everything Money’ Website Experience, Unifying Trading, Investing, Crypto, and Payments
-
Fintech PR3 days agoG-P Recognized as the Highest Leader in Everest Group’s Employer of Record (EOR) Solutions PEAK Matrix® Assessment 2024
-
Fintech PR2 days agoFitch Ratings Assigns Moldova a ‘B+’ Rating with Stable Outlook, Reflecting Economic and Financial Resilience