• Naguib Sawiris reveals an interest in managing and operating three Egyptian airports through potential public-private partnerships.
• Sawiris intends to focus on Egypt’s tourism, planning 3 new hotels while prioritizing completion of existing projects over launching new developments.
• He expects airport development and tourism initiatives to boost inbound tourist numbers and stimulate broader economic activity across Egypt.

Sawiris

Egyptian businessman Naguib Sawiris has revealed his interest to manage and operate three key Egyptian airports. This coincides with the Egyptian government’s recent launch of public-private partnerships aiming to manage and operate airports. 

This is an offering program launched by the Egyptian government in June 2023, supported by the International Finance Corporation (IFC). The program aims to leverage private sector financing for airport upgrades and expansion without burdening the national budget. Moreover, it is important to note that ownership of the airports will remain with the Egyptian Holding Company for Airports and Air Navigation (EHCAAN).

Speaking at the Conference on the Competitiveness of the Egyptian Economy in Cairo, Sawiris highlighted his interest in Hurghada International Airport. The Hurghada Airport, deemed the second busiest airport in Egypt, has recently been offered to select a private partner for its management and operation.

Private-Public Partnership

The Egyptian billionaire disclosed that an Italian company has already expressed interest in partnering with one of his subsidiaries to compete in the bidding process. Furthermore, he adds that he is open to exploring similar opportunities for Luxor and Sohag airports if they are offered by the government.

Recently, the Ministry of Civil Aviation opened applications for strategic partners to manage, operate, and develop Hurghada Airport. This is under strict transparency and efficiency standards.

He predicts that improved airport management and broader tourism initiatives could double tourist arrivals in Egypt in the coming years.

In Egypt, the billionaire’s focus remains on the tourism sector. He plans to build three new hotels near the Giza Pyramids and in Minya and Sohag governorates. Moreover, he intends to focus on prioritizing the completion of existing projects while pausing any other new real estate developments. He further emphasizes that completing existing projects is a top priority.