Egyptian billionaire Naguib Sawiris warns of potential real estate bubble amid economic challenges
Egyptian billionaire and Ora Developers Chairperson Naguib Sawiris has expressed concerns over the potential of a real estate bubble in Egypt.
Related
Naguib Sawiris, Egypt’s second-richest man, is $469 million richer this year
This follows a $500 million gain in 2024 when his fortune increased from $6.48 billion to $6.98 billion.
Naguib Sawiris calls on Egypt’s President to reevaluate mega-projects amid dollar shortage
Sawiris cautioned that the ambitious projects require substantial foreign currency, straining Egypt’s economy.
Egypt’s second-richest man, Naguib Sawiris’ net worth soars past $7 billion
With his net worth now at $7.27 billion, Sawiris remains Egypt’s second-richest man, trailing his younger brother, Nassef Sawiris, who is worth $8.99 billion.
Egypt’s 10 richest businessmen in 2025
Their influence extends far beyond their home country, driving investment, policy shifts, and innovation.
Latest
Mike Adenuga warns MTN-Airtel deal could harm fair competition in Nigeria
He warned that granting MTN additional spectrum could distort the market, reduce competition, and ultimately raise costs for consumers.
Idrissa Nassa’s Coris Bank secures $7.6 Proparco guarantee to boost trade in Chad
Coris Bank secures $7.6 million guarantee to boost trade in Chad, addressing supply gaps and supporting local industries for long-term economic growth.
Aradel, led by Ladi Jadesimi, completes acquisition of Olo marginal fields
This strategic move strengthens Aradel’s upstream portfolio and advances its multi-field cluster development strategy in the Niger Delta.
Nigerian billionaire Abdul Samad Rabiu to pocket $143 million dividend from BUA Foods
This dividend, which will be paid on September 25, is the lion’s share of the proposed N234 billion ($152.43 million) payout for the year.
