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Arab Finance: Orascom Pyramids plans to increase its total investments in the area of the Grand Egyptian Museum (GEM) and the Giza Pyramids to around EGP 2 billion by 2027, with an additional EGP 500 million earmarked for next year, the company's Executive Chairman Amr Gazarin told Al Arabiya Business.
Gazarin said the company has so far invested approximately EGP 1.5 billion, fully financed through its own resources.
The new investments will focus on improving service quality, upgrading operational infrastructure, and expanding the range of events and activities aimed at supporting tourism, he added.
Moreover, Gazarin expects Egypt's revenues from the Giza Pyramids area to reach between EGP 3 billion and EGP 3.5 billion this year, supported by continued growth in visitor numbers and enhanced visitor services. He added that revenues are currently growing at an annual rate of 20% to 25%.
Looking ahead, the company is targeting around 5 million visitors to the Giza Pyramids area and approximately 6 million visitors to the GEM next year.
