15 Mar 2021

Saudi businessmen Hassan el-Sharbatly and Fahd el-Shobokshy announced that they plan to invest around USD2.5bn in Egypt over the next 5 years. The announcement came after they met with the Prime Minister. During the meeting, the businessmen reported on the current status of the Saudi Sharbatly Group’s investments in Egypt, where they have invested around USD2bn during the last 15 years. They also discussed their future plans to increase these investments.

The Sharbatly family is an investor in a wide range of sectors in Egypt and is the driver behind City Stars Mall operator Golden Pyramids Plaza. The Shobokshy family has a stake in Golden Coast Company and South Valley Cement. (Source: al-Arabiya News, al-Mal Newspaper, Mubasher News, Enterprise)