Naguib Sawiris Denies Plans for Stadium and Events Area at Pyramids Plateau

Egyptian businessman Naguib Sawiris has vehemently denied media reports claiming his intention to construct a sports stadium and events area on the Giza Pyramids plateau. Sawiris took to his official X platform account on Sunday to refute the circulating statements, emphasizing that neither he nor any representative from his company made such announcements.

"This is completely false and did not come from me or any of the company’s representatives," Sawiris stated. His clarification came in response to press reports that attributed to him plans for a significant development project within the Giza Pyramids archaeological site. These reports also mentioned new investments totaling ten million dollars aimed at transforming the area.

According to the earlier reports, the proposed investments were intended to establish the Giza Pyramids area as a comprehensive, year-round destination capable of hosting a variety of cultural and sporting events, including international concerts. The reports further suggested that this new funding would complement the ongoing Pyramids development project, which commenced in 2018. The total investment from the company was projected to increase to approximately two billion Egyptian pounds, equivalent to about $41 million.

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This is completely false and did not come from me or any of the company’s representatives.