Sunday 23/Feb/2025 – 10:42 PM
Businessman Naguib Sawiris revealed the details of his meeting with the North Korean leader, the father, describing him as a historic meeting, especially since North Korea is a country with a completely communist system, which makes the private sector’s work difficult in it.
He stressed that the economy is the true political power of countries, noting that he stressed this point during his conversation with the North Korean leader.
Sawiris: I own 9 mines of gold, 5 of which are in Egypt
He added in an interview with the media, Lamis Al -Hadidi, with a final word program: Israel does not wish for good for Egypt, as well as the United States of America, no one wants good for Egypt except the Egyptians themselves.
Regarding his exit from the telecommunications sector, he explained that Algeria was an important supplier for the financial flow of his company, and therefore, after losing there, he decided to exit from the telecommunications sector and go to the real estate sector and invest in gold, and despite the family’s agreement not to compete in the same sector, Eng. Sameh Sawiris did not It objects to that.
He pointed out that he is investing in the field of real estate in countries where Samih Sawiris does not work, such as Greece, Cyprus, Caribbean, Tunisia, Iraq, and the Emirates.
He added that half of his investments are directed to gold mines companies, while the real estate sector represents a third of its investments, expecting to increase them during the coming period, explaining that he possesses nine gold mines, including five in Egypt, stressing that he has not been subjected to any losses since his investment began in gold in 2015.
He revealed that his company Ura Real Estate achieved losses in the first three years due to the sudden rise in the price of the dollar and abnormal inflation, but he expected to achieve its first gains in the market this year.
He explained that despite the increase in UA sales by 12%, it incurred 18% losses due to inflation, adding that inflation eliminates growth in real estate sales.
He pointed out that Egypt is now the most important market of Ura Real Estate Projects, expecting to double the profits of Ura sales abroad within two years to reach two billion dollars.
He noted that Arab sales in Ura projects range from 10% and 15%, calling for facilitating the payment of Egyptians and Arabs to real estate in dollars to encourage the flow of foreign currency.
