Naguib Sawiris is positioning for a world where volatility lasts longer than markets expect.

Why You Should Care

One of Egypt’s most prominent investors is reallocating capital in real time, toward gold and Gulf real estate, and away from the local market.

For operators and investors, this is less about one portfolio shift and more about what it signals: where capital is seeking safety, and where it is pulling back.

Sawiris, Chairman of Orascom Investment Holding, said he has increased his gold investments by USD 400 million since the start of the current geopolitical tensions, channeling capital into a gold mining company where he is a shareholder.

Alongside gold, he has expanded his real estate investments in the UAE. The billionaire points to promising opportunities in this sector, especially amid global volatility and its status as a safe haven. He further describes both gold and real estate as core holdings he does not plan to exit.

In an interview with Alarabiya Business, Sawiris attributes his decision to his belief that the geopolitical volatility will last longer than some expect, amid continued uncertainty in markets.  He also added that investment in gold and real estate are his preferred sectors, both achieving growth, and that he will continue investing in them.

His macro view remains cautious. He does not expect a quick resolution to US–Iran tensions but believes the global economic impact will be sharp in the short term and temporary over a longer horizon.

Additionally, he describes that the future of investment in the region will depend largely on how countries manage crises and their ability to provide a stable and attractive environment for investors.

The Ripple

Sawiris’ allocation shift reflects a broader pattern already visible across the region.

Capital is not leaving emerging markets entirely, but it is becoming more selective. Safe-haven assets like gold are regaining strategic importance, while real estate demand is concentrating in markets perceived as more stable and liquid, particularly in the Gulf.

For Egypt, the opportunity remains clear. Tourism and other key sectors continue to offer strong upside, with the focus now shifting toward unlocking their full potential.

What to Watch

If geopolitical tensions persist, gold’s role in regional portfolios is likely to expand further, regardless of short-term price volatility.

At the same time, watch how capital flows evolve between Egypt and the Gulf. The question is not whether investment returns to Egypt, but under what conditions and in which sectors.

The next phase will be shaped less by global shocks and more by how effectively local markets respond to them.