Egyptian billionaire Naguib Sawiris is investing an additional 500 million Egyptian pounds ($10 million) to turn the iconic Giza Plateau into a year-round destination for concerts, sporting events, and premium tourism.
Egyptian billionaire Naguib Sawiris is doubling down on his ambitious transformation of the iconic Giza Plateau, investing an additional 500 million Egyptian pounds ($10 million) to turn the ancient pyramids into a year-round destination for concerts, sporting events, and premium tourism.
The redevelopment dates back to 2018, when the Egyptian government signed a public-private partnership with billionaire Naguib Sawiris’ Orascom Pyramids Entertainment to modernise the visitor experience at the Giza Plateau, home to the world-famous pyramids and the Great Sphinx.
The fresh investment lifts Orascom Pyramids Entertainment's total spending on the project to around 2 billion Egyptian pounds ($41 million), reflecting Sawiris' confidence that Egypt's tourism industry is on the verge of another record-breaking run, according to BillionairesAfrica.
Electric buses and a new events arena
