{"id":610401,"date":"2023-11-20T00:00:00","date_gmt":"2023-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/20\/alhokair-unit-could-invest-up-to-usd-1-5-bn-here-next-year\/"},"modified":"2023-11-20T00:00:00","modified_gmt":"2023-11-20T00:00:00","slug":"alhokair-unit-could-invest-up-to-usd-1-5-bn-here-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/20\/alhokair-unit-could-invest-up-to-usd-1-5-bn-here-next-year\/","title":{"rendered":"Alhokair unit could invest up to USD 1.5 bn here next year"},"content":{"rendered":"

Units of Saudi Arabia\u2019s Fawaz Abdulaziz Alhokair Company (<\/strong>Alhokair<\/a><\/strong>) could invest as <\/strong>much as <\/strong>USD 1.5 bn<\/strong> in Egypt<\/strong> in 2024, Asharq Busi<\/a>ness<\/a> reported yesterday. Energy, real estate, and infrastructure are on the priority list, Turki Al Hokair, the company\u2019s CEO, told the news service, though he stopped short of offering further details.<\/p>\n

Alhokair is no stranger to Egypt:<\/strong> FAS Finance, which is partly owned by Alhokair, bought a<\/a>5% stake<\/a> in the Egyptian fintech player valU last year, while FAS Energy has a USD 75 mn solar park<\/a> in Benban and announced plans to build a USD 450 mn solar park<\/a> in Egypt last year. Alhokair also owns Marakez<\/a>, the real estate and mall developer and operator whose brands include District 5 and Cairo\u2019s largest shopping center, the Mall of Arabia, in addition to facilities in Mansoura and Tanta.<\/p>\n

Other agreements are set to be signed today at a Egypt-Saudi business forum<\/strong>: <\/strong>A Saudi business delegation led by the Saudi Trade Minister, Majid bin Abdullah Al Qasabi, is in Egypt today for the Saudi-Egyptian Business Council. <\/p>\n

Other participating companies could make announcements today. <\/strong>Watch out for sectors including energy, real estate, agriculture, and tourism, Alhokair said<\/a> on Saturday.<\/p>\n

The investment comes despite concerns about the repatriation <\/strong>of <\/strong>earnings:<\/strong>Central Bank of Egypt Governor Hassan Abdalla has reportedly promised a remedy for investors having problems repatriating dividends amid the ongoing FX crunch, Bandar Al Amiri, chairman of the Saudi-Egyptian Business Council, told CNBC Arabia<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Other participating companies could make announcements today<\/p>\n","protected":false},"author":1,"featured_media":610402,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[72,11793,2234,125,219,11794],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-enterpriseam","tag-fas","tag-foreign-exchange","tag-investment-watch","tag-saudi-arabia","tag-saudi-egyptian-business-council","wpautop","entry"],"acf":{"mongo_id":"69b8b91f-c578-46f3-be19-8ddb6345359a","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1029.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A unit of Saudi\u2019s Alhokair could invest up to USD 1.5 bn in Egypt in 2024","related_issue":[610396],"teaser":"Other participating companies could make announcements today","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.c226ed04-423f-48ca-95fd-c953f7f63236.mp3"},"yoast_head":"\nAlhokair unit could invest up to USD 1.5 bn here next year - 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The firm is in final\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/284.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547416,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/21\/ksas-alhokair-family-agrees-to-acquire-4-99-of-valu\/","url_meta":{"origin":610401,"position":1},"title":"KSA\u2019s Alhokair family agrees to acquire 4.99% of valU","author":"enterpriseam admin","date":"21 June 2022","format":false,"excerpt":"valU welcomes new minority Saudi owners: The Alhokair family looks set to acquire a 4.99% stake in EFG Hermes\u2019 buy-now-pay-later platform valU, according to a statement (pdf) out yesterday. Brothers Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair, and Abdul Majeed Abdulaziz Alhokair have agreed to acquire the stake through a USD\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/257.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547051,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/from-cairo-to-riyadh-valu-moves-into-saudi-in-partnership-with-alhokair-family\/","url_meta":{"origin":610401,"position":2},"title":"From Cairo to Riyadh: ValU moves into Saudi in partnership with Alhokair family","author":"enterpriseam admin","date":"7 June 2022","format":false,"excerpt":"valU enters Saudi Arabia: EFG Hermes\u2019 buy-now-pay-later platform valU is set to enter Saudi Arabia by acquiring a stake in new Saudi consumer finance player Fas Finance, the companies said in a joint statement (pdf) yesterday. Under the partnership, valU will purchase a 35% stake in the Shariah-compliant lender from\u2026","rel":"","context":"In "Fintech"","block_context":{"text":"Fintech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/fintech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/170.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":603271,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/alhokair-looks-to-raise-usd-1-bn-in-ipo-of-its-malls-unit\/","url_meta":{"origin":610401,"position":3},"title":"Alhokair looks to raise USD 1 bn in IPO of its malls unit","author":"enterpriseam admin","date":"17 April 2019","format":false,"excerpt":"IPO WATCH- Alhokair malls unit IPO is back on Fawaz Alhokair Group is gearing up for a USD 1 bn IPO of its mall unit, Arabian Centres Co., Bloomberg reports. The Saudi retail giant is planning to sell about 65 mn existing shares and 30 mn new shares on the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570489,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/02\/alhokairs-marakez-seeks-usd-135-mn-from-ifc-to-build-malls-in-egypt-pay-off-debt\/","url_meta":{"origin":610401,"position":4},"title":"AlHokair\u2019s Marakez seeks USD 135 mn from IFC to build malls in Egypt, pay off debt","author":"enterpriseam admin","date":"2 April 2020","format":false,"excerpt":"INVESTMENT WATCH- Marakez seeks USD 135 mn IFC loan to set up malls in Egypt, pay off debt: Marakez for Real Estate Investment is in talks with the International Finance Corporation (IFC) for a USD 135 mn loan to finance expansion plans in Egypt, the IFC said. Fawaz, Salman, and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637841,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/27\/ipo-of-alhokairs-malls-unit-said-to-be-on-hold-iraq-plans-usd-2-bn-eurobond\/","url_meta":{"origin":610401,"position":5},"title":"IPO of Alhokair\u2019s malls unit said to be on hold, Iraq plans USD 2 bn eurobond","author":"enterpriseam admin","date":"27 November 2017","format":false,"excerpt":"Also making news in the international business press this morning:Alhokair Malls IPO on hold? \u201cPlans to revive the public share sale of Fawaz Alhokair Group\u2019s mall unit are on hold after the accounts of its billionaire co-founder were frozen in Saudi Arabia\u2019s corruption crackdown, according to people with knowledge of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=610401"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610401\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/610396"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/610402"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=610401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=610401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=610401"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=610401"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=610401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}