Egyptian President Abdel Fattah Al-Sisi thanked the UAE and its President, Sheikh Mohammed bin Zayed, for the vast Emirati investment deal as part of the Ras el-Hekma project. On Friday, Egypt signed an investment partnership agreement with the United Arab Emirates to develop the Ras al-Hikma peninsula west of Alexandria, with investments worth $150 billion. It includes pumping about $35 billion in direct foreign investment into the Egyptian treasury within two months.