Orascom Pyramids Entertainment (OPE), chaired by Amr Gazarin, sets plans to invest an additional EGP 500 million in the ongoing development of the Pyramids Plateau, raising the company’s total commitment to the landmark project to EGP 1.5 billion. This announcement, made Thursday in an interview with CNBC Arabia, signals Orascom’s continued dedication to enhancing the visitor experience at Egypt’s most iconic tourist destination.
The project is part of a strategic partnership that dates back to a 2018 cooperation protocol between OPE and Egypt’s Supreme Council of Antiquities, which operates under the Ministry of Tourism and Antiquities. Gazarin emphasized that the primary goal of the project is to improve the infrastructure and services at the Great Pyramids of Giza, positioning it as a global tourism hub. The additional investment will go toward completing ongoing upgrades that aim to increase both the quality and quantity of visitors to the plateau.
Gazarin noted that the partnership between OPE and the Egyptian government is based on a revenue-sharing model, with the expectation of starting to recoup investments by 2026. The broader aim is to double the number of annual visitors to the pyramids, from 2.5 million to 5 million, and boost the proportion of international tourists, which currently stands at 30%.
The initiative is part of Egypt’s broader efforts to revamp its tourism sector, a critical source of foreign currency. In the first half of 2024, Egypt’s tourism revenues reached $6.6 billion, a slight increase from $6.3 billion in 2023. The country has set ambitious targets to welcome 30 million tourists by 2028.
In line with this vision, the first-ever restaurant and lounge on the Giza Plateau opened in October 2020, offering a panoramic view of the nine royal tombs. Furthermore, OPE has launched trial operations for an environmentally friendly electric bus service, designed to transport visitors from the new visitor center to key landmarks across the plateau.
The project aligns with Egypt’s broader push to enhance the visitor experience at one of the world’s most treasured historical sites, ensuring that the Pyramids of Giza remain at the heart of Egypt’s tourism industry for years to come. With Orascom’s continued investment, the future of the Pyramids Plateau looks set to offer visitors both a deeper cultural experience and modern amenities, enhancing the global appeal of Egypt’s ancient wonders.
