Cairo, May 21, 2026: In the presence of HE Turki bin Abdulmohsen Alalshikh, Chairman of the Board of Directors of the General Entertainment Authority (GEA), Sela, a Public Investment Fund company and a leading company in redefining experiences and developing key destinations across the entertainment, sports, and culture sectors, signed a strategic agreement with Talaat Moustafa Group, one of Egypt’s leading urban development and integrated community groups, to launch a strategic alliance for creating and managing entertainment and live event experiences in Egypt, in a move aimed at building a new ecosystem that brings together entertainment, urban development, hospitality, and quality of life.

Alalshikh affirmed that Egypt represents a safe and attractive destination for investment and is witnessing a different path in development, infrastructure, and ambitious projects. He noted that Egypt holds a special place in the hearts of Saudis and Arabs, as well as a deeply rooted religious and historical significance, stressing that the development and investment momentum currently taking place in Egypt sends an important message to the world at this time.

In remarks delivered during the signing ceremony, HE praised the direct support provided by Egyptian President Abdel Fattah El-Sisi and the relevant authorities in the Arab Republic of Egypt, affirming that this support played a major role in creating the conditions necessary to implement events and projects smoothly and efficiently on the ground. He added that the cooperation with Egyptian authorities reflects Egypt’s ability to host major global events and launch major projects with broad regional impact.

Alalshikh also highlighted the deep historical relationship between the Kingdom of Saudi Arabia and the Arab Republic of Egypt, affirming that Egypt holds a special place in the hearts of Saudis. He noted that he had heard from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, may Allah protect him, that one of King Abdulaziz’s recommendations to his sons was to care for Egypt and stand by it. He also pointed out that he had seen a special photograph of the Custodian of the Two Holy Mosques training to volunteer in defense of Egypt in 1956. He further affirmed that His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz, may Allah protect him, is among Egypt’s strongest supporters and admirers and shares a distinguished relationship with President Abdel Fattah El-Sisi.

HE also spoke about his personal experience with Hisham Talaat Moustafa, explaining that he witnessed the early stages of some of his projects in Egypt since the beginning of the millennium, when certain areas were still remote and undeveloped and projects existed only in their initial planning phases before transforming today into some of Egypt’s most prominent real estate destinations. He described this as a reflection of long-term investment vision and bold decision-making, adding that his testimony regarding Hisham is “biased,” because he personally witnessed how projects that once seemed distant and difficult became successful and influential models in the real estate market.

HE praised Talaat Moustafa Group’s experience in the Kingdom of Saudi Arabia, noting that among the most successful projects implemented in the Kingdom were residential units launched by a foreign investor in partnership with Talaat Moustafa Group, which witnessed strong demand and sold out off-plan in a very short time. He stressed that this reflects the group’s ability to develop highly attractive projects and deliver real estate models that inspire confidence in the market.

HE Turki Alalshikh explained that the importance of this alliance extends beyond hosting standalone events, encompassing the creation of an integrated ecosystem for major events in the region that connects Saudi Arabia and Egypt within one route capable of attracting international artists and global stars. He stated that the presence of two major countries such as Saudi Arabia and Egypt gives the region a unique ability to attract global entertainment tours, allowing artists traveling from the United States, Britain, or Japan to perform in Riyadh or Jeddah before moving to Cairo, Alexandria, the North Coast, or El Gouna, making the journey more worthwhile and transforming it into a complete regional tour.

He noted that this concept represents a different direction for the future of the entertainment industry, as Saudi-Egyptian cooperation can reshape the equation for attracting major events and make the region part of the global schedules of international artists, bands, and productions. He emphasized that this type of integration can only be achieved through major markets, strong organizational infrastructure, and partners capable of delivering at the highest standards.

Alalshikh added that the new project could represent a major transformation for the region, describing it as a “Game Changer” for the sector, particularly with the presence of Hisham Talaat Moustafa and his group, alongside Dr. Rakan Alharthi, Managing Director of Sela, and his team, given the extensive expertise both parties possess in development, operations, and experience creation. He revealed that next year will, God willing, witness major surprises on Egypt’s North Coast and in other destinations across the country, concluding his remarks by stating that “Egypt next year will be completely different” in this field, with work currently underway on major projects that will elevate the entertainment experience and deliver a distinctive model worthy of Egypt’s status and its ability to host major global events.

For his part, Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Holding Group, expressed his pride in the alliance and his deep appreciation for HE Turki bin Abdulmohsen Alalshikh, noting that HE enjoys special affection in Egypt. He stated that Egyptians always feel that Alalshikh is “more Egyptian than Egyptians,” in appreciation of the love and support he has consistently shown toward Egypt, its projects, and its events.

Hisham Talaat Moustafa affirmed that the Kingdom of Saudi Arabia holds a special place in his heart and that his relationship with the Kingdom extends back more than fifty years. He added that he “loves Saudi Arabia” and proudly follows the remarkable transformation it has witnessed in recent years under the leadership of His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz, may Allah protect him, describing it as one of the greatest transformations witnessed by any nation in terms of vision, methodology, and society.

He also praised the tremendous efforts led by HE Turki Alalshikh in the entertainment sector, affirming that the impact of these efforts has extended beyond the Kingdom and benefited the entire world, including the Egyptian government, through the successful models and world-class events delivered by Saudi Arabia. He noted that reaching this agreement came after three months of continuous work, with direct support and follow-up from HE Turki Alalshikh, as well as the efforts of Dr. Rakan Alharthi and his team, who worked tirelessly to bring this partnership to life.

The CEO and Managing Director of Talaat Moustafa Holding Group explained that the Egyptian market is large and promising, and that the time has come to focus on Egypt’s entertainment sector with a global mindset that benefits from the pioneering experience led by HE Turki Alalshikh in the Kingdom. He stressed that all parties are determined to create a major shift in Egypt’s entertainment landscape and present a sustainable and competitive model.

He pointed out that Egypt currently welcomes around 22 million tourists, with ambitions to increase that number to approximately 37 to 38 million tourists by 2030, affirming that purchasing power in the Egyptian market is exceptionally strong. He added that upcoming events will span Greater Cairo, the North Coast, Sharm El-Sheikh, Luxor, and Aswan, creating a partnership that benefits both sides and fundamentally transforms Egypt’s entertainment ecosystem in the coming phase.

Hisham Talaat Moustafa added that the alliance aims to create a qualitative shift across the sectors of entertainment, culture, arts, and sports, supporting the group’s vision of developing communities centered around sustainable quality of life, delivering genuine added value to the economy and society, maximizing recurring returns, and positioning its urban communities — with their advanced infrastructure and high-quality services — as attractive destinations on the regional and global entertainment tourism map.

He concluded by affirming that the group aspires to benefit from Saudi Arabia’s successful experience in events and entertainment and establish an integrated route through which events can move strongly between Saudi Arabia and Egypt, strengthening cooperation between the two countries and opening a new chapter of strategic partnerships. He thanked HE Turki Alalshikh for his support, as well as Dr. Rakan Alharthi and the Sela team, expressing confidence that this partnership will achieve strong results, God willing, and mark the beginning of a new era for the entertainment industry in Egypt and the region.

Dr. Rakan Alharthi, Managing Director of Sela, stated that this alliance represents a new milestone in the company’s journey toward strengthening its international presence, adding that Sela is built on a clear vision centered on redefining experiences through the development of destinations, events, content, and live experiences capable of creating experiences that leave a lasting impact.

He added that Sela established its presence in Saudi Arabia through managing some of the Kingdom’s largest and most diverse events before expanding into major international cities and capitals, from London to Las Vegas, where it established its presence in the global experience industry. He noted that entering the Egyptian market today through an alliance of this scale represents a natural step in the regional expansion of a Saudi model that has become capable of competing in the world’s most advanced markets and confidently transferring its expertise across the region.

Under the agreement, Sela’s role will focus on managing and developing live experiences and events, including venue operations, festival organization, concerts, on-ground operations, content creation, and entertainment experiences. Talaat Moustafa Group will serve as the destination and community partner through its extensive real estate assets, strong presence in the Egyptian market, hospitality platforms, widespread communities, advanced infrastructure, and high-quality services.

The joint platform is expected to operate across a broad range of entertainment and cultural sectors, including concerts and live entertainment, festivals and cultural seasons, family experiences, theater and comedy productions, as well as sporting events. This will contribute to building a more diverse entertainment calendar within Egypt while enhancing integration with successful experiences that have already established a strong presence in the Kingdom of Saudi Arabia.

Among the alliance’s key projects is “CORRIDOR,” a cross-border entertainment platform connecting the Kingdom of Saudi Arabia and the Arab Republic of Egypt through a coordinated series of entertainment and cultural experiences and events. The concept will allow major events to move between the two countries within one integrated route, offering audiences wider choices while creating opportunities for international artists, bands, and productions to present extended experiences across multiple cities and destinations.