Orascom Pyramids Entertainment, a company owned by billionaire Naguib Sawiris, is increasing its investments in Ancient Egyptian archaeological monuments by one third. The company is focusing on sports events and concerts by popular stars such as Shakira to significantly boost tourist flow.
According to a report by Asharq Business, the new investment volume will amount to approximately 10 million US dollars. These funds will be allocated to acquiring a fleet of 30 electric buses for tours, as well as constructing a light steel open arena with a capacity of up to 15,000 spectators. Amr Gazzarin, the CEO, provided this information.
Orascom Pyramids Entertainment (OPE) has signed a ten-year contract with the government to develop visitor experiences at these monumental structures, which are 4000 years old. This concession, which led to the launch of new services worth 30 million dollars in Spring 2025, has made the company one of the key players in the record growth of tourism in North Africa.
Last year, Egypt welcomed nearly 19 million tourists, yielding to Morocco on the continent. Tourism Minister Sherif Fathy stated that reaching a record of 20 million visitors in 2026 is possible, with nine million already registered in the first six months. This demonstrates the resilience of a vital source of foreign currency and employment in Egypt, despite nearly three years of conflicts in the wider Arab world.
The government receives all revenue from pyramid ticket sales, while OPE earns income from renting five venues on the plateau to event organizers, as well as from VIP tours and sponsorship contracts. Furthermore, the company leases retail spaces and owns some restaurants on the premises.
Before the pyramid development project began, approximately 2.5 million visitors were attracted annually. According to Gazzarin, by hosting major events, OPE aims to generate revenue of up to 200 million Egyptian pounds, or 4.1 million dollars, in 2026, and break even the following year.
Colombian superstar Shakira is scheduled to perform near the Pyramids in November. This continues the tradition of artists such as Red Hot Chili Peppers and Black Eyed Peas who have performed near the pyramids over the last decade. Gazzarin added that the company hopes to organize similar events in the future, such as a boxing match featuring Ukrainian heavyweight Oleksandr Usyk in May.
According to Gazzarin, the company is considering purchasing new buses from Nasr Automotive Manufacturing Company. An Egyptian state-owned company recently signed an agreement with China's FAW Group for the local production of a range of vehicles under the Nasr brand. Additionally, Orascom Investment Holding's subsidiary signed a financing agreement last year worth 963 million Egyptian pounds with Commercial International Bank to fund the reconstruction of light and sound shows at the Giza Pyramids and surrounding areas.
