Saudi Al-Othaim Outlines 3-year Investment Strategy for Egypt’s Tourism Sector

Saudi-based Al-Othaim Group is planning to pump investments estimated at 300 million Egyptian pounds (US$42 million) in Egypt’s leisure tourism sector within the next three years, the CEO announced.

According to Fahd bin Abdullah Al-Othaim- CEO of Al-Othaim Group – the targeted investments will be notably in Cairo, aiming to carry out more expansions into other governorates.

Fahd’s remarks were made during the press conference held on Saturday by Amer Group to announce the new entertainment city in Porto Cairo Mall in cooperation with Al-Othaim Group.

Furthermore, Al-Othaim’s CEO said the investment cost of the new entertainment city in Porto Cairo Mall would amount to 60 million pounds approximately. The city would be the gateway to more investments in Egypt by the Saudi company in the coming three years.

He added that Al Othaim contracted a major global company to receive topnotch equipment for the entertainment city.