Saudi amusement park company Alhokair Group's FAS Investment and Real Estate Development has unveiled plans to invest $1.5 billion in Egypt in 2024. FAS's existing investments in Egypt already total $5 billion. The proposed investment will span the energy, real estate, and infrastructure sectors within Egypt. The Saudi Commerce Minister emphasized the resolution of over 70 percent of challenges faced by Saudi investors in Egypt, with ongoing efforts to address remaining issues, fostering an environment conducive to collaboration.
Egyptian and Saudi companies are poised to finalize investment agreements amounting to $1.5 billion across sectors such as energy, real estate, agriculture, and tourism, as part of a Saudi-Egyptian forum. The forum aims to promote bilateral investment opportunities and was agreed upon during discussions between Saudi Commerce Minister and Egyptian Prime Minister. The collaborative efforts underscore a strategic commitment to fostering economic synergy between the two nations, with a focus on resolving challenges faced by investors.