Naguib Sawiris boosts funding for Egypt’s pyramids facilities development

Orascom Pyramids Entertainment, a company owned by billionaire Naguib Sawiris, is significantly boosting its investment in the Giza Plateau, home to Egypt's iconic pyramids. The company is increasing its stake by a third, injecting approximately $10 million into developing the ancient archaeological sites.

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Orascom’s Contract Orascom Pyramids Entertainment (OPE), has a 10-year contract with the government to develop the visitor experience at these colossal, 4,000-year-old monuments.

This substantial investment aims to enhance the visitor experience and propel tourism to new heights. Plans include introducing a fleet of 30 multi-stop electric buses to facilitate tours around the plateau. Additionally, a lightweight steel outdoor arena with a capacity for up to 15,000 spectators is set to be constructed, capable of hosting sporting events and major concerts by international stars.

Orascom holds a 10-year contract with the Egyptian government to manage and develop the visitor experience at the 4,000-year-old monuments. This partnership has already seen the launch of new services worth $30 million in spring 2025. The company is a key player in Egypt's burgeoning tourism sector, which welcomed nearly 19 million visitors last year. Officials are optimistic about reaching a record 20 million visitors in 2026, with nine million already recorded in the first half of this year.

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This demonstrates the resilience of a vital source of foreign currency and employment in Egypt, despite nearly three years of conflict in the wider Arab world.

The government retains all revenue from ticket sales to the pyramids, while Orascom generates income through leasing sites for events, VIP tours, and sponsorship deals. The company also manages shops and restaurants on the plateau. Orascom aims to generate targeted revenue of up to LE 200 million ($4.1 million) in 2026 from hosting major events, with a goal to break even next year. International artists like Shakira are scheduled to perform, following in the footsteps of previous performers such as the Red Hot Chili Peppers and the Black Eyed Peas. The company is also exploring options for acquiring new buses from the Egyptian state-owned Nasr Automotive Manufacturing Company.

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By hosting major events, OPE aims to generate revenue of up to LE 200 million, or $4.1 million in 2026 and break even next year.