Saudi theme park firm to expand into Egypt

Al Hokair Group, a Saudi entertainment company that operates more than 70 amusement parks in the kingdom, is seeking funds to expand into Egypt, it was reported.

The Riyadh-based firm, which also operates over 30 restaurants and hotels, is looking for investment to develop commercial projects in Cairo and Alexandria, the al-Madina newspaper reported.

The report said Al Hokair was looking to raise a total investment of around US$570m to fund the projects.

Al Hokair Group employs more than 6,000 employees across the kingdom and operates 680 rides, over 2,370 video games and around 700 bumper cars within its 70 parks.