Table of Contents
Key Points
- Naguib Sawiris to invest $150 million in hotels near Pyramids and Sphinx Airport to ease tourist travel.
- The new hotels aim to tackle accommodation shortages while boosting Egypt’s tourism infrastructure.
- Sawiris highlights real estate challenges, including high interest rates and rising costs of imported materials.
Naguib Sawiris, the Egyptian billionaire and one of the Middle East's most influential business figures, aims to redefine tourism near the iconic Pyramids with plans to develop one or two luxury hotels worth $150 million.
Strategically positioned near Sphinx Airport, these hotels aim to ease accommodation shortages while improving accessibility and convenience for tourists.
Sawiris targets tourism gap with $150 million hotel project
The initiative aligns with Sawiris’ vision of tackling infrastructure gaps and boosting Egypt’s global tourism appeal. By enhancing visitor convenience and investing in the region’s potential, the project supports Egypt’s goal of becoming a leading global destination.
“The Pyramids area, one of the world’s top attractions, lacks sufficient hotel rooms. This project will set new standards for luxury and accessibility,” Sawiris said at the 6th Annual Hapi Conference.
Sawiris emphasized the economic impact of such developments, highlighting challenges in Egypt’s real estate sector. Rapid population growth drives demand, yet annual sales of 10 top developers, totaling EGP30 billion ($594.53 million), reveal lengthy timelines for unit sales and completion.
Sawiris’ vision for redefining Egypt’s tourism
Naguib Sawiris, with a net worth of $7.25 billion, continues to drive transformative projects across Egypt’s key industries. He is now focused on addressing gaps in Egypt’s tourism sector by investing $150 million in luxury hotels near the Pyramids and Sphinx Airport.
Sawiris’ $150 million investment near the Pyramids underscores his commitment to reshaping Egypt’s tourism and real estate landscape, addressing key gaps while driving economic growth and innovation.
This hotel project reflects Sawiris’ commitment to transformative, sustainable investments that address these challenges and support Egypt’s broader economic objectives.
