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Elsewedy’s USD 500 mn GCC push-

Egypt’s Elsewedy Electric plans to establish nine facilities in Saudi Arabia and two in Qatar, CEO Ahmed El Sewedy told Asharq Business. The expansion aims to diversify export hubs and strengthen regional competitiveness, investor relations head Noha Agaiby told EnterpriseAM.

The details: The company is earmarking SAR 1.5 bn (USD 400 mn) for the Saudi facilities. They include two plants in Yanbu, one of which will produce specialized cables and another for copper rods (a JV with Alfanar) with a capacity exceeding 130k tons. Riyadh will see plants for cable accessories, fiberglass, EV chargers, and water meters, while a new Dammam facility will produce power transformers.

In Qatar, the company plans to invest QAR 250 mn (USD 67 mn) in plants for copper and aluminum rods and power distribution transformers, with production set to begin in 2027.

Construction is underway on 10 mn-visitor Madinah cultural hub-

PIF-owned Qsas broke ground on its flagship experiential destination Alsirah Gardens in Madinah, where immersive exhibits on the prophetic biography are expected to attract 10 mn annual visitors, according to a statement.

Why it matters: Alsirah Gardens is part of the Kingdom’s play to tap into the pilgrim downtime market as the Kingdom builds up attractions for pilgrims to extend their stay after completing their rituals. The destination joins the Alsirah platform roster, which includes the Journey to Quba and Bustan Al Mustadal, as well as other cultural projects in the holy cities, such as the Makkah Clock Tower Museum and the Hira Cultural District.

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