Egyptian billionaire Samih Sawiris to start investments in Saudi Arabia ...Egypt

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Egyptian billionaire Samih Sawiris to start investments in Saudi Arabia
Egyptian billionaire Samih Sawiris announced plans to start investments in Saudi Arabia during the second half of this year. “I will start with the tourism sector, and we plan to implement a project similar to the Egyptian city of El Gouna there, with investments for the first phase of the project amounting to at least US$500 million,” Sawiris said on Sunday. He continued, “The project will overlook the Red Sea, and it will be implemented in partnership with investors from the Saudi private sector.” Samih Sawiris added, “I also intend to pump new investments in El Gouna at a value of $100 million within two years, and there is a tendency to build a new hotel and upgrade the existing hotels.”

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