Egyptian Tycoon Joins Gulf Push with $50bn US Investment Pledge
Sawiris’s initiative risks falling in line with the region's past commitments: characterised by classic Gulf ambition but uncertain in execution.
Following his relocation to the United Arab Emirates, Egypt’s wealthiest billionaire, Nassef Sawiris, has unveiled plans to invest $50 billion in American infrastructure over the next decade. The investment, to be channelled through a restructured Orascom Construction, merged with OCI Global and re-domiciled in Abu Dhabi, positions Sawiris to capitalise on the United States’ infrastructure revival. More broadly, the pledge reflects a strategic alignment with the Gulf’s wider drive to direct capital towards the US. Yet questions remain over the tangible benefits of previous Gulf commitments, particularly in the aftermath of Israel’s strike on Doha, which has cast fresh doubt on the resilience of US–Gulf relations.
Keep reading with a 7-day free trial
Subscribe to MENA Unleashed to keep reading this post and get 7 days of free access to the full post archives.