By: Billionaires Africa

Egyptian billionaire Naguib Sawiris announced plans to bid for the management and operation of up to three airports as Egypt opens its aviation sector to private participation. Speaking at an economic conference in Cairo, Sawiris identified Hurghada International Airport as a primary target, noting that an Italian company was considering forming a consortium with one of his firms for the bid. He also flagged Luxor and Sohag airports as priorities, stating that professional management and infrastructure upgrades could enhance Egypt's appeal to international tourists.

Beyond aviation, Sawiris outlined broader investment plans. His group is seeking new land in the United Arab Emirates, following a successful initial project there, with regional investments totaling approximately $15 billion. In North Africa, he aims to expand his electric mobility initiatives, potentially adapting an electric vehicle model currently used in Egypt to replace diesel motorcycles in Morocco.

Within Egypt, Sawiris stated that his future focus would be on tourism development rather than new real estate launches, with plans to build three new hotels near key sites like the Giza Pyramids. With a reported net worth of $10.4 billion, Sawiris built his fortune in telecommunications and mining and currently chairs the real estate and hospitality firm Ora Developers.