GCC companies bid for Egypt’s first airport privatisation
GCC and European companies and consortia have reportedly submitted bids to manage Hurghada International, Egypt’s second-busiest airport by passenger traffic.
The government plans to complete within the next two months a review of detailed proposals submitted by the private sector, Saad Sabra, country manager at the International Finance Corporation, told Saudi TV news channel Al Arabiya.
The civil aviation ministry engaged IFC in March 2025 to introduce public-private partnerships at 11 airports. Hurghada was selected as the pilot for the privatisation programme.
The review of pre-qualification bids has started and will be followed by detailed technical and financial proposals, Sabra said. No timeline was disclosed for the project award.
Sabra said the project will need direct investments of more than $100 million.
Funds will be needed to cover airport infrastructure development, enhance operational and service efficiency, improve the passenger experience and increase capacity, he added.
The privatisation initiative falls under the Egyptian government’s asset monetisation programme, launched in June 2023. It aims to leverage private-sector financing for airport upgrades and expansions without burdening the national budget.
Cairo secured $1 billion in financing from the World Bank earlier this month to support the private sector in strengthening the economy. The package includes a $200 million credit guarantee from the UK aimed at sustaining growth.
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