Prince Khaled bin Waleed Al Saud, a member of the Saudi Arabian royal family, has expressed his desire to invest in Egypt by establishing a number of projects, especially in Sharm El-Sheikh, a report said.

Prince Khaled, who is also chairperson of the board of directors of the Seven Regions International Company, also stated during his meeting with Sahr Nasr, Egypt’s Minister of Investment and International Cooperation, that he wishes to enter a partnership to expand his current projects and support any faltering projects in Egypt, according to a report in Daily News Egypt.

Nasr highlighted that there are many investment opportunities in the New Administrative Capital, the New El Alamein City, and the Suez Canal Development Center, in addition to South Sinai, which the Saudi prince can invest in as the government provides these areas with high-quality infrastructure and all services to encourage investment in them.

Earlier, Saudi businesspeople Fahd Al-Shobokshi and Abdul Rahman Al-Sharbatli met with Nasr and agreed to inject new investments in Egypt worth $2.15 billion. Meanwhile the Egyptian-Saudi Business Council raised the investment ceiling in Egypt to $51 billion.