On Thursday, February 1st, an investment contract with Entertainment World Company was signed by Matrouh Governor Alaa Abu Zeid for a joint investment project to establish a Disneyland-style amusement park In Egypt. It’s said that the park will be worth around $3.3 billion.
According to Egypt Independent the theme park will be built in Sidi Heneish, Marsa Matrouh, on an area of 5,080 acres.The Local Development Minister Abu Baker Al-Gendy, Investment and International Cooperation Minister Sahar Nasr, and Chairperson of the General Authority for Investment and Free Zones Mona Zobaa were present at the signing ceremony hosted by Abu Zeid and Lisa Marie Stephen, the Managing Director of Entertainment World in the Middle East and Africa.
According to Nasr, the park will be the biggest foreign investment project after the new investment law and its executive regulations. It will include an open zoo, aqua park, medical and sport cities, and hotels, said Abu Zeid.
Stephen explained that the park is one of the Entertainment World Company’s biggest investments globally. He continued saying that the project will be finished along the course of nine to 10 years over many stages, the first phase to be completed in around two years. The project is also expected to generate around 40,000 new job.