Saudi Arabia Undecided on Investing in Egypt’s Red Sea Coast, Minister Says

📷Ahmed Al Khateeb, Chairman of the Saudi commission for tourism and national heritage gestures during an interview with Reuters in Riyadh, Saudi Arabia September 25, 2019. Picture taken September 25, 2019. REUTERS/Nael Shyoukhi

Riyadh, October 27, 2025 (Saudi Arabia Breaking News) – Saudi Arabia has not yet decided whether to invest in Egypt’s Red Sea coast, focusing instead on expanding domestic tourism infrastructure, Minister of Tourism Ahmed Al-Khateeb said on Sunday.

Speaking at the Fortune Global Forum in Riyadh, Al-Khateeb said the Kingdom is prioritizing the development of new destinations at home, including the Red Sea Global project, which plans to open 17 new hotels by May 2026.

“FIFA has already confirmed that Saudi Arabia has sufficient hotel capacity to host the 2034 World Cup,” Al-Khateeb said. “They checked the number of rooms today, and we qualify. But we are adding more rooms and enhancing the overall experience, especially in luxury destinations.”

He noted that while Cairo has explored potential Saudi investment in the Ras Gamila area near Sharm el-Sheikh—following significant UAE investments on Egypt’s Mediterranean coast—the Kingdom has not made any decisions on the matter.

Al-Khateeb reiterated that Saudi Arabia has no plans to lift its ban on alcohol, emphasizing that international tourists are attracted to the Kingdom’s rich cultural, historical, and natural experiences instead.

Saudi Arabia has eased several social restrictions in recent years as part of Vision 2030, an ambitious national plan led by Crown Prince Mohammed bin Salman to diversify the economy and reduce dependence on oil revenues.