Safari Holding Group, a Saudi Arabian company, has allocated one billion Egyptian pounds for investment in the family entertainment sector in the Egyptian market until 2030.
Ali bin Saleh Al-Saqqari, the Deputy CEO of Safari Group, stated that the company has established its first branch of the famous brand Chuck E. Cheese in the western region of Cairo, specifically in the Royal Park Mall. This branch marks the beginning of their investments in the entertainment field.
He added that the group intends to expand by opening Chuck E. Cheese branches in Cairo, Alexandria, and Sharm El-Sheikh, as well as expanding in Turkey and Morocco, within the current year.
Al-Saqqari confirmed that the group is interested in continuing its expansion in Egypt and is looking to increase the number of its branches, especially in Greater Cairo, due to the high population density and the growing demand for this type of entertainment activities.
He stated that Chuck E. Cheese offers entertainment games for various age groups and can be considered a family gathering place as it provides food and play under one roof. It also allows for organizing various family and community events at affordable prices for everyone. Therefore, there is a desire to expand geographically in Cairo in the future.
He added that the first branch was established in the western region of Cairo after renting the land from the owner. This is the mechanism the company relies on to acquire assets, in addition to purchasing from the private sector or the government. He pointed out that his company has been actively moving into the local market since 2017 and has explored multiple opportunities, but it was halted due to the spread of the coronavirus, which disrupted its plans for years, before commencing construction at the Royal Park branch and starting the actual operational phase.
He confirmed that the Egyptian economy is very strong despite challenges and slowdowns, which is why the group made the decision to continue expansions, add more assets, and work on utilizing the annual profits to finance future expansions.
According to press releases, Chuck E. Cheese is an American brand that offers more than 2 billion play cards annually with over 35,000 games worldwide, in addition to organizing children's birthday parties.
In a related context, Al-Saqqari stated that Safari Holding has several other investments in the Egyptian market in the telecommunications and real estate sectors, and they are also interested in continuing their expansion in these sectors, as well as seizing opportunities in any promising fields.