Naguib Sawiris aims to manage three Egyptian airports

Egyptian billionaire Naguib Sawiris said he plans to bid for the management and operation of up to three airports as Egypt moves to bring private operators into the sector, a step the government sees as key to improving services and boosting tourism. 

Speaking at the Conference on the Competitiveness of the Egyptian Economy in Cairo, Sawiris said an Italian company is considering forming a consortium with one of his firms to pursue Hurghada International Airport, which is now open to private participation.

Sawiris also flagged Luxor and Sohag airports as priorities for potential bids. He said professional management and upgraded infrastructure could boost Egypt’s appeal to international visitors.

Regional investments and tourism focus

Beyond airports, Sawiris outlined plans to expand investments across Egypt, the United Arab Emirates and Iraq. He said his group is seeking new land in the UAE following the strong performance of his first project there, with investments amounting to $15 billion. 

In North Africa, Sawiris said the group plans to take its electric mobility experience beyond Egypt. After replacing traditional tuk-tuks with electric vehicles, he said the model could be adapted in Morocco by shifting from diesel-powered motorcycles to electric alternatives.

In Egypt, Sawiris said future expansion will center on tourism rather than new real estate launches. He plans to develop three hotels, including projects near the Giza Pyramids and in Minya and Sohag, while focusing on completing existing developments. 

Background and business profile

Sawiris, the eldest son of the late Onsi Sawiris, built his fortune through telecommunications and mining. A major turning point came in 2010 with the sale of key telecom assets, followed by additional transactions that added billions to his wealth. He ranks as Egypt’s richest man, with a net worth of $10.4 billion, according to the Bloomberg Billionaires Index.

In recent years, he has concentrated on gold mining through La Mancha Resources, which holds stakes in Endeavour Mining and Australia-based Evolution Mining. He is also chairman of Ora Developers, founded in 2016, which focuses on high-end real estate and hospitality projects across the Middle East, Africa and Europe.