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

The latest funding will finance a fleet of 30 electric hop-on, hop-off buses and the construction of a 15,000-seat open-air sports pavilion on the Giza Plateau, according to Orascom Pyramids Executive Chairman Amr Gazarin.

The company, a subsidiary of Orascom Investment Holding, still has another decade under its agreement with the Egyptian government to modernise the visitor experience at one of the world's oldest archaeological sites.

Unlike traditional concession agreements, the Egyptian government retains all ticket revenue from entry to the pyramids. Instead, Orascom generates income through VIP tours, restaurant operations, commercial leases, sponsorships, and hosting major events.

That strategy is beginning to pay off. Gazarin expects concerts and sporting events alone to generate up to 200 million Egyptian pounds ($4.1 million) in revenue this year, with the business projected to break even in 2027.

A bigger tourism ambition

The investment comes as Egypt enjoys one of its strongest tourism recoveries in years.

The country welcomed around 19 million visitors in 2025, making it Africa's second-most visited destination after Morocco. Egyptian authorities are targeting 20 million tourists in 2026, with over 9 million arrivals already recorded during the first half of the year.

Before Orascom's redevelopment began, the Giza Plateau attracted roughly 2.5 million visitors annually. The company now aims to double that figure to 5 million visitors next year.

For Sawiris, whose fortune is estimated at $3.8 billion, the project represents more than a commercial venture. By blending heritage, entertainment, and sustainable transport, he is betting that one of the world's oldest landmarks can become one of its most dynamic tourism destinations.

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