The Chairman of Orascom Investment Holding (OIH), Naguib Sawiris, has announced his intention to compete for the management contract of the Hurghada International Airport.
Sawiris revealed that OIH has recently been approached by prominent British and French firms to form a consortium, aiming to bid for the first airport the Egyptian government plans to open to private sector management.
Speaking at the Hapi Annual Conference, the tycoon noted that he has long advocated for the privatization of airport management.
He emphasized the urgent need to modernize and digitize passport control departments and expand electronic visa (e-visa) systems to accommodate surging tourist arrivals—drawing parallels to the efficient models implemented in Dubai and Turkey.
Egypt’s Ministry of Civil Aviation earlier in December officially invited specialized consortia and companies to apply for qualification in the selection of a strategic partner to manage, operate, and develop the Hurghada International Airport.
The ministry emphasized that the selection process will adhere to the highest international standards of transparency and efficiency.
In response to the initiative, Naguib Sawiris expressed his readiness to compete for additional airport management contracts as they are tendered by the government, specifically highlighting the Luxor and Sohag airports as key interests, Al-Arabiya reported.
Sawiris projected that the modernization of airport infrastructure, combined with current tourism incentives, would likely double the number of tourists visiting Egypt in the coming years.
According to Al-Arabiya, during the conference the business mogul outlined a strategic shift in his domestic investment plans.
His upcoming expansions in Egypt will be primarily concentrated in the tourism sector. He revealed plans to establish three new hotels located in the Pyramids plateau, as well as the Minya and Sohag governorates.
Sawiris ruled out launching any new large-scale real estate projects, stating that his company is currently focused on completing its existing portfolio of developments.
