Egyptian billionaire Samih Sawiris to invest in mega tourism project in Saudi Arabia’s Red Sea

“I will start with the tourism sector, and we plan to implement a project similar to the Egyptian city of El Gouna there, with investments for the first phase of the project amounting to at least US$500 million,” Sawiris said on Sunday.

He continued, “The project will overlook the Red Sea, and it will be implemented in partnership with investors from the Saudi private sector.”