Sawiris Plans for Tourist Destination Similar to El-Gouna in KSA
- Publish date: Thursday، 15 June 2023
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Egyptian Billionaire Samih Sawiris plans to build a new tourism attraction in Saudi Arabia like Egypt’s El-Gouna, the business tycoon told Asharq Business on June 11th, on the sidelines of the Arab-Chinese Business Conference held in Riyadh.
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The initial investment for this project will be no less than $500 million, Sawiris added.
The anticipated project, which has a view of the Red Sea, will be carried out in collaboration with Saudi private sector investors.
As part of the kingdom's ambitions to promote Saudi heritage and culture, Sawiris revealed that he also had plans for a tourism project in Jeddah to resuscitate an ancient heritage region.
This project is expected to be implemented within five years and is set be the largest attraction in Jeddah, similar to the Diriyah area in Riyadh, he said.