Samih Sawiris to Invest in El Gouna-Inspired Project in Saudi Arabia

Get ready Gounies, we’re crossing the Red Sea.

Having recently announced plans to focus his investments on Saudi Arabia, Egyptian billionaire Samih Sawiris is set to invest in a tourism megaproject in Saudi Arabia, largely inspired by his Egyptian Red Sea resort city of El Gouna.

The project, which is planned to be implemented in collaboration with investors from the Saudi private sector, will receive an initial investment of USD 500 million from Sawiris for its first phase starting the second half of this year.