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He invested his money in FC Luzern and in the Andermatt UR ski area, among other things. Now Samih Sawiris (66) has a mega project in mind in Saudi Arabia. According to the information he gave to the Egyptian newspaper “Egypt Independent”, the Egyptian-Montenegrin billionaire wants to spend 500 million US dollars in the first stage for a huge luxury resort on an island.
“I will focus primarily on the Saudi tourism sector. We are planning a similar project there as in El Gouna.” This is the city in Egypt that has turned Sawiris into a tourist paradise almost from scratch. He now has similar plans for his investment in Saudi Arabia.
It starts at the end of 2023!
Half a billion dollars flows into the Saudi luxury resort on the Red Sea, which has also been described as “the world’s most sustainable tourism project”. The island of Sindalah is the first of a total of ten holiday destinations in Neom, the huge project of Saudi Crown Prince Mohammed bin Salman (37).
Sindalah will house three luxury resorts. Plus an 18-hole golf course, 50 boutiques, 40 restaurants, spas, diving schools, cultural institutions, a yacht club – everything the heart of wealthy guests desires. The hotels are scheduled to open by the end of 2023.
Nature must be protected
Sustainability is the top priority throughout the project. As part of its program to restore at least 1.5 million hectares of land, Neom announced an initiative that aims to plant approximately 100 million native trees, shrubs and grasses by 2030. Responsibles promise that resorts like Sindalah will use the most modern and sustainable technologies. Coral reefs in front of resorts must be protected.
However, the ambitious project also raises questions and concerns in some quarters about the true intentions behind the construction. The idea of spending their holidays in the politically and socially restrictive country, while the locals have to relocate for construction work, is frightening for some.
Not so for the Sawiris. The honorary citizen of the canton of Uri relies on the power play of Saudi tourism. (NO)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
