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Wednesday, April 17, 2024

Egyptian business tycoon meets PM Khan with ambitious investment plan

Pakistan welcomed Egyptian business tycoon, Naguib Sawiris's interest to invest in the low-end government's residential scheme,'Naya Pakistan Housing Scheme'.

Naguib Sawiris, the Egpytian’s richest man, and businessman met Prime Minister Imran Khan during his two-day visit to Pakistan.

Sayed Zulfiqar Bukhari, Special Advisor to Prime Minister on Overseas Pakistanis, Governor SBP Reza Baqir, Chairman Board of Investment Syed Zubair Gillani, Adviser Finance Abdul Hafaaz Sheikh, Adviser Commerce Razzak Dawood and Chairman NPHDA Lt. Gen (R) Anwar Ali Haider were also present in the meeting.

Naguib Sawiris, Executive Chairman Orascom Telecom Media, and Technology expressed interest in investing in Naya Pakistan Housing Scheme and country’s tourism sector. He also asserted to produce a progressive program for the banking sector through SME banks.

Read more: Naya Pakistan Housing Scheme: NADRA Received 1.6 million Applications Since Extension

Sawiris posed his confidence in the Pakistani market and apprised PM Khan of his plans to invest in the real estate sector.

PM Khan appreciated his investment plans and reiterated the full support of his government. Khan asserted that with the improvement in ranking of ease of doing business, Pakistan has become an attractive hub for investment for global investors. Pakistan offers an array of sectors for investment to interested international investors.

Sawiris has already made a $2 billion investment in the real estate sector of Pakistan in 2017. He collaborated with Pakistani real estate developers, Kohistan Builders, and Saif Group to uplift the lifestyle standards in Pakistan under the brand name, Eighteen. Eighteen is a 2.7 million square yards gated community, located in the 18th District to the south-west of Islamabad. The gated community is laden with the highest quality of design and construction.

Sayed Z Bukhari, while addressing the press conference said: “Naguib is a revolutionary businessman. While we are exploring business opportunities in mining, tourism, and banking, we would also want Naguib’s involvement in making Naya Pakistan and we would want to benefit not only from his investments but also from his experience and vision.”


The Minister for Overseas extended a warm welcome to Naguib Sawiris on Twitter. Naguib Sawiris humbly responded to his tweet calling Pakistan his second home and praising the people and culture of the country.