Set to be built in Marsa Matrouh, the amusement park will be a joint US-Saudi Arabian investment, with it's first stages predicted to be complete in two years.
While there are a handful of theme parks dotted around Egypt, the country's recently announced $3.3 billion project is set to blow them all out of the water. Set to be built across 5,080 acres of the Sidi Henaish area, Matrouh governor Alaa Abu Zeid is said to have signed the deal on the US-Saudi investment project with the Entertainment World Company on Thursday, as reported by Egypt Independent.
Lisa Marie Stephen, the managing director of Entertainment World in the Middle East and Africa has promised facilities that include an open zoo, an aqua park, medical, educational and sports cities, as well as hotels, with the project predicted to take 9 to 10 years before being fully operational.
The massive project is being heralded as one of the first to benefit from the 2017 investment laws which were drawn up in an attempt to encourage foreign investment, according to investment and international cooperation minister, Sahar Nasr. The amusement park will be the largest foreign investment project in Egypt, and the largest investment venture globally for Entertainment World in the Middle East and Africa – one that is estimated to create 40,000 new jobs.
The project eclipses the $5.6 Million Chinese-funded TEDA Fun Valley, which sits on the North-West Gulf of the Suez Economic Zone.