Orascom Pyramids Entertainment, owned by billionaire Naguib Sawiris, is increasing its investment in ancient Egyptian archaeological sites by a third, betting on sporting events and pop concerts by stars like Shakira to help propel tourism to new heights.
The new investment, totaling approximately US$ 10 million, will fund additions including a fleet of 30 multi-stop electric buses for tours and a lightweight steel outdoor arena with a capacity of up to 15,000 spectators, Asharq Business reported CEO Amr Gazzarin as saying.
Orascom’s Contract
Orascom Pyramids Entertainment (OPE), has a 10-year contract with the government to develop the visitor experience at these colossal, 4,000-year-old monuments.
This concession, which saw the launch of new services worth $30 million in the spring of 2025, has made the company one of the key players in the North African country’s record-breaking tourism growth.
Egypt welcomed nearly 19 million visitors last year, second only to Morocco on the continent.
Tourism Minister Sherif Fathy says a record 20 million is possible in 2026, with nine million already recorded in the first six months.
This demonstrates the resilience of a vital source of foreign currency and employment in Egypt, despite nearly three years of conflict in the wider Arab world.
The government receives all revenue from ticket sales to the pyramids, while OPE earns income from leasing five sites on the plateau to event organizers, as well as from VIP tours and sponsorship deals.
The company also leases out locations for shops and owns some restaurants there.
Four million dollars in targeted revenue
The Pyramids attracted approximately 2.5 million visitors annually before the development project began.
By hosting major events, OPE aims to generate revenue of up to LE 200 million, or $4.1 million in 2026 and break even next year, according to Gazzarin.
Colombian superstar Shakira is scheduled to perform at the Pyramids in November, following in the footsteps of bands like the Red Hot Chili Peppers and the Black Eyed Peas who have performed at the pyramids over the past decade.
The company hopes to organize future events similar to the boxing match featuring Ukrainian heavyweight Oleksandr Usyk in May, Gazzarin added.
The company is considering options for purchasing new buses from Nasr Automotive Manufacturing Company, according to Gazzarin.
The Egyptian state-owned company recently signed an agreement with China’s FAW Group to locally manufacture a range of vehicles under the Nasr brand.
Another subsidiary of Orascom Investment Holding signed LE963 million financing agreement with Commercial International Bank last year to fund the redevelopment of the sound and light shows at the Giza Pyramids and surrounding areas.
Naguib Sawiris boosts funding for Egypt’s pyramids facilities development Egypt Independent.
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