samih sawiris yacht

An interview with the visionary behind Lustica Bay: Samih Sawiris

Samih Sawiris of Orascom, the company behind Luštica Bay, reveals the philosophy that underlies his work, tells us the story of the development and shares his vision of its future. 

SAMIH SAWIRIS, FOUNDER OF ORASCOM DEVELOPMENT 

I never had any intention of going into the family business, but I knew even before I left school that I wanted to create a business and use that business to become rich. I started doing the odd deal and trade at university, and when I left I founded a company producing and selling boats which made my first million. I’ve always loved the ocean – I get sick if I stray too far from water. Then I drifted into real estate and stayed there for 30 years. 

THE PHILOSOPHY OF ORASCOM- EL GOUNA AS A FLAGSHIP DESTINATION 

‘The philosophy of Orascom Development and Luštica Bay has evolved out of many mistakes I’ve made along the way. I can arrogantly claim that there is no one alive who’s made so many mistakes – I can write the book. Our first project, El Gouna, started off as a plan for a few villas and a marina for sailors and fishermen. In my wildest imagination, I would never have believed this 500,000-square-metre project would ultimately cover nearly 40,000,000 square meters and house 30,000 residents. 

‘The project turned out to be a failure because the infrastructure those few villas needed was costing so much – so I had to react before people discovered it was a failure. I built more villas, and reached critical mass; but now I had people coming to stay, I had to consider what if someone had an accident – what do you do with the poor person, throw him in the sea? So I built a clinic. Then I realised my employees needed a school, and after that, I had to build houses for the teachers, and a decompression chamber for injured divers and more and more generators to light the town. ‘Now, when friends come and visit they say, “So Samih, which bit exactly is your project?” The whole of El Gouna looks and feels so organic, so much like a proper place, that they can’t believe it was all built by Orascom. It’s very frustrating after the millions I’ve spent on marketing! So our philosophy is really the consequence of solving problems caused by the mistakes I’ve made along the way. 

‘My commitment to sustainability and the environment is a little different. I’m a fanatical lover of the sea; some time ago I realised that human beings were abusing nature, and the sea is an integral part of nature. I noticed how much fewer fish there were, how many dead reefs, how much litter in the ocean. And I decided that we needed to preserve this planet a bit better. 

Not only that, but I’ve watched the development of environmental law. I’m getting bravos for doing things everyone will have to do in a few years’ time. So my approach is, why not do it early and garner the gratitude? El Gouna has just been described by the UN as the most environmentally friendly town on the planet. I’m delighted, but a decade from now I’m hoping it will have been overtaken by many other towns. 

ANDERMATT IN SWITZERLAND - ANOTHER PROJECT OF ORASCOM 

Our environmental policies make good business sense too. Our newest development is in Andermatt in Switzerland and the Swiss would never have permitted it if they’d visited El Gouna and been disappointed by our standards. Much the same applies to our attitude to our staff and the local area. I’m a great believer in being plugged into the community. The community gives you strength – I come from Upper Egypt and there, part of your wealth is the number of people who depend on you and like you. There’s nothing that makes one more proud than being hailed as el capo, but it can’t be because people are scared – because you’re making them stand in line and cheer you like a dictator. 

When people identify with a place, they don’t steal from it. If you’re not stuck in a filthy little room with six other guys waiting for the holidays to come so you can see your family for 10 days – if Luštica Bay is properly your town – then you have a completely different attitude towards it. We win awards for our service and get by far the highest rates of repeat visitors in Egypt because of the way we treat our employees. Part of your capital is the happiness of the people who work for you, and again, the Swiss would never have signed off Andermatt if they’d visited one of our sites and been told by staff that I was cruel or criminal. 

THE DEVELOPMENT IN MONTENEGRO 

But for me, the thing that sets Luštica Bay apart is that it’s built around a place that has existed for many, many years. I compare it to mixing a new wine with a vintage. The result is so much better. 

The fact that Luštica Bay has original buildings at its core will give it such incredible charm. It has a better chance of looking like a proper town in 10 years, rather than in 30 years. And Montenegro itself is such a quaint country. ‘I really believe that Kotor Bay will soon be the best place on the Adriatic. The One&Only and the Four Seasons are coming; it’s going to be incredible. As for me, now I’m no longer hands-on at the company, I can relax – although I reserve the right to give my team hell if I think a building looks ugly! I own two football teams, one in Egypt and one in Switzerland, and I’ve fulfilled a 30-year dream to build a boat big enough to go around the world. We’re currently in Australia; our next stop is India or Oman, and then we’re back to Egypt. 

‘My bucket list is empty, but I’m closely involved with the Sawiris Foundation for Social Development. We’ve made so much money and now it’s time to give some of it back; partly because it wouldn’t help the kids or anyone else to give them too much, and partly because we can’t continue having 2-3% of the global population owning 90% of the wealth. It will drive the world into chaos. I believe it will become the norm to give back and a big chunk of my net worth is devoted to the foundation, building schools and hospitals and training young people for work. 

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FTI GROUP and Samih Sawiris confirm majority shift

The German Bundeskartellamt has approved Samih Sawiris' majority shareholding in the FTI GROUP. Following the capital increase the Egyptian investor is thus paving the way for the tour operator's secure future. The management remains unchanged.

The German Bundeskartellamt has approved Samih Sawiris' majority shareholding in the FTI GROUP. Following the capital increase the Egyptian investor is thus paving the way for the tour operator's secure future. The management remains unchanged. Munich, 16 April 2020 – Securing the future for the FTI GROUP: Samih Sawiris and the FTI GROUP confirm the transfer of the majority share in the travel group to the Egyptian entrepreneur. Following the confirmation of the German Federal Cartel Office, the investor holds 75.1 percent of the parent company FTI Finanzholding GmbH. He had joined the FTI GROUP in October 2014 and to date held 33.66 percent of the tourism company. The main shareholders were FTI GROUP founder and Managing Director Dietmar Gunz and Roula Jouny, CEO of Meeting Point Hotels & DMCs. The majority shift in favour of the Egyptian entrepreneur goes hand in hand with an increase in equity capital. The group’s management team consisting of Dietmar Gunz, Roula Jouny, Ralph Schiller, Carsten Becker and Andreas Eickelkamp could thus create a financing package together with the investor, supported by government guarantees, which enables them to steer the group through the challenging times of the Corona crisis. Dietmar Gunz comments: "This 'Corona financing package' would not have been possible without the financial commitment of our partner and shareholder SOSTNT – the family office of Mr. Samih Sawiris – and the resulting increase in equity capital. This support makes SOSTNT the majority shareholder of the group. Sawiris sees his new role as a major shareholder as both a gain and an opportunity for both sides: "My participation in the FTI GROUP since 2014 proofed to be a great success for both partners. With the majority stake in one of the largest and most diversified tourism companies in Europe, I am ideally rounding off my current portfolio of holiday destinations, hotels and distribution with the travel agency chain RV Touristik and can continue to position myself in the most important segments of the travel industry. This is once again a win-win-situation for both sides to get through this challenging times together." The 63-year-old is the founder and president of the destination and hotel development company ORASCOM. No change in management There are no plans for new orientations in the FTI management: "The long cooperation between the co-partners, the management and myself has been excellent," says the Sawiris. "Based on this proven experience, I can ensure that there will be no extraordinary changes in the management of the Group's operations. Also the intensive cooperation between FTI and ORASCOM will not change in comparison to today," he confirms.

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Samih Sawiris steps down as Chairman of the Board of Orascom Development Holding

Samih Sawiris will step down as Chairman of the Board of Directors at the next Annual General Meeting of Orascom Development Holding (ODH) in spring 2022. He is leaving office after more than 30 years at the helm of ODH. Samih Sawiris will remain Chairman of the Board and majority shareholder of Andermatt Swiss Alps AG.

The Board of Directors of ODH will propose Mr. Naguib Samih Sawiris for election as Chairman of the Board at the Annual General Meeting. Naguib Samih Sawiris has been a Member of the Board since 2016 and has served as Vice Chairman since 2020. Samih Sawiris will remain available as Advisor to the company. As part of the proposed succession plan, Naguib Samih Sawiris will also become ODH's majority shareholder and Samih will transfer control over to Naguib.

"Reflecting on the past 30 years, I am incredibly proud of everything we've built," said Samih Sawiris. "It has been a rewarding journey, and I am grateful to everyone who has been a part of it. It's now time to look forward to ODH's next chapter. Naguib's experience building and investing in successful technology businesses in the U.S., and his active role in supporting ODH through the COVID crisis, has made me confident that he is both capable and committed to successfully leading ODH into the future, together with CEO Omar El Hamamsy and the support of the Board. I wish them all the best."

Naguib Samih Sawiris added, "I look forward to stepping into the role as Chairman with a deep sense of responsibility and gratitude. My focus will be to ensure ODH returns to its former prosperity and becomes a category-defining destination development company. This will be achieved by a determined focus on our customers, our employees and our partners."

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WRITER: Nicolas Shammas

Like his two brothers, Samih Sawiris is an eminent man. The three of them combined have an estimated worth of over 20 billion USD. But his town building ambitions are even more colossal than any net worth figure.

The hunt to secure an interview with Samih Sawiris was a protracted and arduous one, for the simple reason that this man cannot be pinned down. Always on the go, the Chairman of Orascom Hotels and Development (OHD) has certainly won some reward for his efforts with his company recording record year-on-year growth and a current market capitalisation of over 4 billion USD.  

Yet Samih Sawiris is not an ambitious man who went out looking for success, rather it came looking for him. He was so resolute and steadfast in his will to see his company succeed that he risked both his own personal finances and his reputation to prove his naysayers wrong.

His company OHD, is the primary designer, developer, contractor and marketing force behind the highly successful El Gouna (Red Sea, Egypt), Taba Heights (Sinai, Egypt), Tala Bay (Aqaba, Jordan) and The Cove (Ras El Khaimah, UAE) projects. It has forged its own niche in the world by becoming the first private city-developer to handle everything required to accomplish such a feat. 

Sawiris, an engineering graduate from the Technical University of Berlin, used to be content with his agencies and franchises whose activities ranged from selling engines to harbour equipment while also building boats. Conversely, El Gouna was only ever supposed to be a side activity, “to cater to friends and family.” Yet, as it grew exponentially he recognised the opportunity and “had to stop the other stuff and focus on this.” Nevertheless he recounts with some modesty how, “I didn’t come into the middle of the desert to build a town. I wasn’t that crazy.” If the distance between insanity and genius is measured only by success then there is a strong argument to be made that Samih Sawiris is quite simply a genius.

OHD may have ‘hotels’ and ‘development’ in the name, but over the course of our interview I felt the development side was this man’s prime focus, even if ultimately he has six thousand hotel rooms in his company’s portfolio with a target of reaching ten thousand within the next fifteen years. Town-building is the name of the game and to this end he has established himself in a manner that would have been unimaginable even a few years ago.

We concluded the interview with a telling insight into Sawiris’ bullishness. “We [OHD] are still far from being recognised for what we really are as it is very difficult for analysts to imagine the scale and break-up the complexities of the activities into verifiable, quantifiable units that they can just add up to a price tag.” 

When did you start Orascom Hotels & Development? Well we started in 1989. At the time we were doing this project here [in El Gouna] as a start not really knowing this would become a whole career. And then we liked what we did and people liked what we did as well so we started doing it again and again and again and again, [laughs].

So how long did it take to create the masterplan and break ground? I don’t believe in masterplans, I believe in a vision that stays dynamic and suits the area, the people that live in it, your clients, and the circumstances. 

Why this particular spot of the desert then? The best way to go about finding a sea-view location is to find a local fisherman, give him your requirements and they will take you there. At the time my main concern was to be far enough from Hurghada, but not too far, so as to make use of the airport. Close enough to the nicer diving sites, swimming areas and islands. Close enough to the fishing grounds as all my friends at the time were big fishermen. And we needed a place with a natural harbour so that we could safely moor our boats.

What did your initial vision entail? Initially every person wanted just a house and a place to put the boat. I was hoping to attract twenty people at that time. That was a critical size for me to make the project, and we ended up having sixty people wanting those houses. The government insisted that we have a hotel so we added one and that was supposed to be the project. This is how small a vision you can start with [laughs]. 

What about electricity, water and so on, were you getting all of that from the government? No, we were on our own. From the first day this was a condition of the government. Now we are also doing something new, in that we wish for El Gouna to become a CO2 neutral entity, by making as much [clean energy] as we consume. This is another demonstration of why it is best to stay dynamic, for this is a new aspect that people want and I believe if people want it why not give it to them.

How many people live here now? We have sixteen thousand people with one thousand one hundred students at schools. 

And how many hotel rooms or keys? We have three thousand hotel keys and we have at least double that in real estate.

And what is the primary focus, the real estate side or the hotel side? There is no primary. It is like an orchestra. Everyone is primary. If you want to play music everybody is important. I mean everybody. Even that poor guy at the back with the drums that waits the whole evening for his turn to play dah-dah-dum, [laughs]. You know he is still very important.

Could we go back to the evolution as it is very interesting to know how this project went from twenty to sixteen thousand people? Well you keep finding out what is missing and what people need. Before even the first twenty people moved in I felt the heat coming. I would think what about communication, what about groceries, what if something happens to someone, what about the staff that will be left behind for months when the owners are not using their houses, how are they going to be catered for, how are they going to feel happy living here? At the end of the day a town needs everyone to be happy not just the rich. 

What kind of facilities do you offer in order to generate tourism? Everything. Name anything and I’ll tell you we have it. If you manage to think of something we do not have I guarantee that we’ll have it by the next time you come. This is exactly how we have added activities by the way. But the crucial aspect now is that people come and ask, “May I do this in your town?”  And this is even better for it means we have attained the critical size whereby we have enough people to make practically every activity feasible and therefore we can attract people to come, invest and live here. That is essentially why we are growing the size of the town.

It is a year round town? Yes, absolutely! I believe it is fundamental for the success of a town to kill seasonality. You must give enough reasons for people to live here permanently. These seasonal employees are very harmful for a town because they don’t have any sense of belonging, they don’t create local culture or local citizenship. It also makes a lot of the services unfeasible. You really need to make sure when developing somewhere that you avoid the pitfalls of seasonality.

What feedback have you received so far that you can draw conclusions from? One of the things I hear quite often from people that come to stay at El Gouna is, “It is so fantastic we did not expect it to be like that. It is almost like being in Europe.” This has two bad messages, Egypt doesn’t stand for quality and we are not well marketed.

Isn’t the future of the tourism industry here in low-cost travel? No. There are now more people willing to invest more money to create better high-end tourism. Of course there is scalability and you don’t need your fifteen million tourists to be looking for 500 USD a night rooms. That doesn’t exist anywhere in the world. But to have the mass business and the more selective luxury business side by side is something that we never even considered.  Yet, now it is happening.

What are some of the lessons you have learned from places like Sharm El-Sheikh? Sometimes the government can actively assist in the destruction of market niches by allowing competition to pull it down. Sharm El-Sheikh was the jewel of the Red Sea but because they were under so much pressure from investors to give them a piece of the action they just over-supplied the market. The rates went down, the services went down and today they are suffering. At the end of the day the Red Sea is big, there is much land and they should have created new destinations and said, “Enough, there are ten thousand rooms in Sharm El-Sheikh.” Instead they let it grow and now there are forty thousand rooms there, it is ridiculous.

So what is the maximum number of rooms you will allow here in El Gouna? We already said enough is enough as far as volume hotels, now we are only building upscale boutique hotels. We are at around three thousand rooms now; I think five thousand should be more than enough. 

Now that El Gouna is considered a success you say that there are others requesting you replicate the model. Where will this happen? We are doing one in Morocco, one in Oman, one in Ras El -Khaimah and the latest one is in the Swiss Alps. We replicate the model of town building. Though the model is dynamic and can be applied we need to have the orchestra. People see us as conductors and we are invited to conduct their orchestras. We have a depth of talented individuals that have been with the company for years and years and know what it takes to make a coordinated strategy of achieving the building of a town absolutely anywhere in the world.

How favourably do governments look upon you and your company? We’re a perfect model for governments as we don’t ask for anything. They gave us some desert and we created 15.000 jobs from which they can collect their taxes. Governments’ prime concerns are unemployment and cash in the box; we are providing them the chance to tax everybody directly and indirectly and we’re taking care of some of the unemployment problem. All this without any investment from their end. It is a win-win for any government. 

How do you finance such mammoth projects? You have to raise equity. It is a big endeavour but it pays off. We grew over the years to a sizeable company thanks to the fact that our invitation for people to invest in us and with us, has always paid off. 

What about competition? At the end of the day no one can claim to have created a town. Solidere is a downtown centre that has been catered for by the government, with a road network, sewage and water. But we do everything all the way down to the security. It is a different scale. Even Emaar which is a huge real estate developer cannot boast about having done one single integrated town that they created from A to Z.   

How long does it take to recuperate the investment from such projects? It is super long-term and that is another reason why we do not have any real competition. Yet, if you look at our market cap we are close to four billion USD and it is not like I invested four billion USD. So the market has already given us the gratification of acknowledging there is value in this set-up and that is our profit. I do not like short term businesses, there is too much competition and it is not like I am in shortage of a pair of trousers or a piece of meat to eat. So whether the money comes today or in the future is not such a problem. 

Is the private sector in the Middle East stronger than it has ever been? I think there is no more room in trying to eliminate the private sector in any country. The private sector has taken over; the resistance within government circles is fading. Even in the most totalitarian regimes, they have managed to find a formula to co-exist with business people.

So you believe the private sector can do it better than any government? Not any private sector, if you want a quick buck it is not in your interest, but if you are willing to wait at least ten years, then it will bring you money, yes. It is a business for long-term minded people.

How do you factor in instability when dealing with such long term projects? We need to be prepared to take heat from time to time. I almost lost this company when the Luxor event happened [on November 17th, 1997] as we were over leveraged. We were not ready for the total withdrawal of every source of cash revenue overnight. We were in the middle of projects and we needed to continue, so we took on further leverage and in the end, the interest on the interest on the interest almost put us out of business. Eventually, I had some assets that I had to sacrifice. I had a winery, a brewery, a distillery and a hotel outside El Gouna that were all sold and with that cash we fought our way back. So the lesson was when things go wrong you better be sure there is enough substance and cash to survive. However when the storm does pass you will be rather alone in the market which gives you a huge opportunity. That is the upside to it. 

Has anyone, anywhere done anything like your projects? No, I have tried to see comparables as we need them for the stock market and there is nothing like our company. There are some huge real estate developers but no real town builders. It is too long term for many people to get into such a headache. And honestly let’s face it if I had known El Gouna would be a town, I would never have done it. So in a way it is by mere luck.

But now you have evidently embraced it. I am a total advocate of it. I am even doing one project that is making me especially proud as it is for low income people. We have not yet named the town but if we get close to three hundred thousand people all of whom are not earning much money and we provide them with decent services in a happy enclave. That will make me very, very proud. 

You built a niche speciality that will probably be studied in business schools one day.  [Laughs] It may be quite a boring course as they will say, “By coincidence he did this” and, “What was his strategy – nothing! He would follow anyone that wanted to build a town and he would do it.”

When were you most happy? When people came to El Gouna and stopped telling me, “You’re crazy, what are you doing in the middle of nowhere?” I could see it was going to be good but people did not and I was quite alone. I don’t say it but “I told you so” brings me lots of satisfaction especially when I see people not only living here but living here happily. 

But how can you gauge happiness? Feedback and statistics. If you have more people moving in than people moving out meaning very little turnover, this gives you credible information. Did you know we have the highest number of repeat guests of any destination in Egypt? And that is by multiples. On any given day you can walk into a hotel in El-Gouna and you will find that almost thirty per cent of the guests have been here before.

Why do you think that is? It is safe, it is clean. They are not harassed in the shops; no one is taking them for a ride. Because the waiters and help to a large extent live here, or are looking forward to living here permanently, they treat this place as their home town and they aspire to make it the best town around. They add to the service philosophy. 

How much do you get involved and what is your secret to doing so much at once? Delegate, delegate, delegate. 

And total control? If you start from the beginning with too many other people then you will never have enough control. I did that in Jordan in our Tala Bay project in Aqaba: we did not go for the total ownership model there because it was during the period when we were going under, so I couldn’t even claim to be able to go it alone financially. So really the model that works is total ownership-total control. You cannot have four conductors leading the orchestra, can you?

What is your definition of luxury? Piece of mind, time and pleasant views.

Are you always working? I wasn’t like this and I hope I do not stay like this, but the last year has been very tough. The listing on the Swiss stock market was a huge exercise but we IPO’d and it went well. It was oversubscribed and yes the shares went up by thirteen per cent.  I will have more time when we eventually complete the team. There are some serious key members missing and they will take much of the burden from my shoulders.

So how are you structuring the company to prepare for the future? I am structuring the company so that the investor takes risk on the countries and not a person. Look at Vodafone or other multinationals, the CEO will add plus or minus ten or twenty per cent to the company during his time but he will not drive it down the drain because he will be replaced by the board of directors… We also have separate, independent companies in each country where we are active. We act as the server that anybody can access for information, know-how and experience. We give them help. But ultimately these companies will mature so that each one, on its own merit, has a set up like here and we will meet for consolidation on the balance sheets at the end of the year.

Do you hope one day your kids will play an active role in the company? I have a lot of kids and if they want to be party to this company they are more than welcome but it’s not my aspiration just to hand over the keys to junior and say, “Here, go and take care of it.” They have to earn it and if they don’t earn it then its better they just stay as shareholders, do their own thing and know in the back of their mind that they can always access cash if they need it for their businesses.

Is that how your father was with you? Yes, every one of us did it on his own. And I think that is the perfect formula. Even if my kids do a wonderful job they will always be accused of having had an easy ride, but if they want to, they can. 

How much support do you get from the other Orascom companies? Zero, just the name. We do no business together as we believe we should not have inter-company relations. There would be a conflict of interests.

So none of the brothers profit from their siblings’ companies?  Naguib started Orascom Telecom (OT). Nassef started Orascom Construction Industries (OCI) and I started OHD. Even the shareholders are different. I profit only from OCI because I happen to be a big shareholder. But I have practically no shares in OT and Naguib owns very little shares in the other two companies.

What was the greatest lesson you learned from your father? You have to push your kids to do their own thing and not to count on you. You should stay in the background and offer advice but do not push it on them because they might take short cuts and say, “You tell us what to do.” There are certain deliverables and as long as they are bringing them, the rest is their choice.

What are the deliverables? You have to do good at school, go to a decent university and earn your own money.

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Samih Sawiris steps down from Orascom to make way for son Naguib Sawiris

Samih Sawiris was quoted saying that the decision is so that Naguib will assume his responsibilities and devote himself to the work that he loves, leaving Orascom Development Holding after more than 30 years in his son’s hands

By: Business Today Egypt

Wed, Dec. 15, 2021

Egyptian construction tycoon Samih Sawiris will be stepping down from his long-held position as chairperson of Orascom Development Holding and handing over the reins to his son Naguib Sawiris, not to be confused with his brother Egyptian billionaire Naguib Sawiris.

According to a statement, Sawiris will not nominate himself again to chair the board of directors at the annual meeting in May of next year, but will remain available as an advisor to the company as part of the proposed succession plan.

Samih Sawiris was quoted saying that the decision is so that Naguib will assume his responsibilities and devote himself to the work that he loves, leaving Orascom Development Holding after more than 30 years in his son’s hands.

"The decision was made based on my vision that Naguib Samih Sawiris along with CEO Omar el-Hamamsy form a unique team... the most efficient team... to successfully lead the company towards the future," Samih Sawiris said in the statement.

The statement added that the elder Sawiris will be transferring all his shares in the company to his son Naguib. However, he will continue holding his majority stake in the Andermatt project in Switzerland as the largest shareholder and Chairman of the Board of Directors.

Naguib Samih Sawiris said as the new chairperson that his "entire focus will be on ensuring the company returns to its former prosperity and becomes a benchmark for developing distinguished destinations."

"I look forward to more cooperation with the Egyptian government during the next stage, as we consider ourselves a permanent partner in the development of the tourism and real estate development sectors in Egypt," he said.

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Samih Sawiris

Age, biography and wiki.

Samih Sawiris was born on 28 January, 1957 in Cairo, Egypt. Discover Samih Sawiris's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 67 years old?

We recommend you to check the complete list of Famous People born on 28 January. He is a member of famous with the age 67 years old group.

Samih Sawiris Height, Weight & Measurements

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His wife is Goya Gallagher Sawiris

Samih Sawiris Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Samih Sawiris worth at the age of 67 years old? Samih Sawiris’s income source is mostly from being a successful . He is from . We have estimated Samih Sawiris's net worth , money, salary, income, and assets.

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In December 2019, he acquired Thomas Cook Germany through his Raiffeisen Touristik (RT) Group, which he already bought 74.9% of its shares in 2014.

He became a Montenegrin citizen in 2011. In 2011 he took a 12.5% stake in Swiss football club FC Luzern.

Samih Sawiris received his Engineering Diploma in Engineering management from the Technical University of Berlin in 1980. He founded National Marine Boat Factory, followed by Orascom Projects for Touristic Development in 1996 and Orascom Hotels and Development in 1998; the latter two companies later merged to form Orascom Development Holding AG. He has served as CEO and chairman of Orascom Development Holding AG since its incorporation.

Samih Onsi Sawiris (Egyptian Arabic: سميح أنسي ساويرس ‎; born in 1957) is an Egyptian-Montenegrin businessman and billionaire and second of three sons of Onsi Sawiris, the other two being Naguib Sawiris and Nassef Sawiris . He is the executive Chairman of the Board of Directors and CEO of Orascom Development Holding AG. As of 2011 his net worth was estimated at $1.4 billion, making him the 879th richest person in the world.

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What Is Famous About the Alegria Yacht

When you talk about famous yachts the Alegria yacht is one among them. The watercraft offers exceptional facilities and is applauded for its overall design. Listed on sale, the Alegria yacht is being offered at an incredible price. There are many interesting details regarding the Alegria yacht that are worth exploring. Let’s get straight into it.

All you need to know about the Alegria yacht

Formerly known as Vica, the Alegria yacht made its debut in 2010. It was built by famous Italian shipbuilders, Benetti . It is the 105th largest yacht produced by the company and takes the 1621st position in the world ranking of largest yachts.

As per reports the yacht was taken in for a refitting session in 2022, and has got some significant updates primarily in the interior. Fraser, has currently listed the Alegria yacht for sale. The asking price for this majestic yacht is $12,395,000.

Perhaps, it’s now time for us to delve into the details of the yacht in detail and find out what makes it so special.

Next, learn more about the samih sawiris yacht and its relevance in the global maritime industry.

Location of Alegria yacht

Before we go any further with the specifications of the yacht, let us quickly find out where the Alegria yacht currently is. As per AIS reports, the Alegria yacht is currently in the North West Atlantic Ocean.

The last known travel of the yacht was from Nassau, Bahamas to Palm Beach, United States. It is currently operational under the flag of Cayman Islands. This information was updated as of February 2023.

Features and specifications of yacht Alegria

The fact that the Alegria yacht is popular, suggests that the features and specifications of the yacht are incredible. Therefore, let’s take a look at each element of the yacht in detail.

Guest cabins and passenger capacity of Alegria yacht

Engine and performance of yacht alegria, exterior design and dimensions of the yacht, other details related to the yacht.

With a total of 3 decks, the Alegria yacht has plenty of space to offer. It can accommodate a total of 12 guests in 5 luxury guest cabins. The interior of the yacht is fully equipped with all the required amenities and carries a contemporary style design.

Interior designers Francois Zuretti wanted to create a space that was welcoming, and functional at the same time. With the Alegria’s interior, they certainly achieved their target.

The Alegria yacht showcases brilliant performance. It has 2 Caterpillar Inc. diesel engines, model 3508B. Each engine produces up to 1,299 horsepower that amounts to a total of 2,598. The kilowatt generated by each 3508B engine is 969 Kw, with the total being 1,937 Kw.

All this power can launch the Alegria yacht to a top speed of 15 knots. Its cruising speed is set at 12 knots, which helps it achieve a better range. The total water and fuel holding capacity of the Alegria yacht is 11,000 liters and 67,000 liters respectively.

Like any other superyacht, the Alegria also features an extraordinary design. Stefano Righini Design are the bright minds behind the exterior design of the Alegria yacht. When you take a look at the yacht, you immediately notice the classic and modern design cues that harmonize well.

The total length of the Alegria yacht is 43.6 meters. Its beam length is 9.4 meters and has a draught max measuring 2.76 meters in length.

Apart from all the aspects we have mentioned above, there are few other details related to the Alegria yacht that you must know about. Mentioned below are all the other details related to Alegria yacht:

• Hull and superstructure of yacht Alegria are made of GRP material
• Gross tonnage measure of the yacht is 456 GT
• Class and type of the motor are ABS and motor, accordingly
• Hull configuration of the Alegria yacht is displacement
• The yacht features two large propellers
• The yacht also comes with a crew of 11 members

Yacht Alegria: Highlights

Now that we have provided an elaborate explanation of the various components of the Alegria yacht, let us look at the compilation below to get a quick overview.

Alegria yacht: A beautiful Italian superyacht

The Alegria yacht is a stunning Italian superyacht. Its features and specifications as mentioned above showcase exceptional quality. Hence, the yacht is extremely well-known in the yachting community.

If you are someone who is looking to buy the Alegria yacht, you must know that the yacht is currently for sale. On the other hand, if you are not off the idea of buying one, you can always yacht rental in Dubai .

Chartering a yacht is a must convenient option as opposed to buying one. Especially, because it offers you great flexibility, enabling you to alter between yachts when you decide to charter.

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River Cruise on Luxurious Radisson Boat

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Equipped with ice-breaking technology, these huge fancy yachts are the only river cruisers running all year around. The round trip journey takes two and a half hours and floats past all the big sights like the White House, Novodevichy monastery and the Kremlin. There’s a large open air observation deck up top, while the main body of the ship houses a restaurant with a dance floor for a romantic post dinner dance. For a particularly romantic experience take one of the evening boats and admire the bright lights of the city skyline at night.

The most relaxing and picturesque tour that Moscow can offer: a great way to see the city center and its main attractions. This is a perfect alternative to exploring the city by car, if you only have time to do sightseeing during weekday rush hours.

Your English-speaking guide is eager to share every bit of their knowledge about the surrounding landscape, the architecture and historical details.

We conduct Moscow river tour on Radisson Flotilla boats all year around!  It’s warm inside during winter months, while there’s air conditioning during hot summer days. You may also treat yourself to drinks, lunch or dinner on board (drinks and food are not included in tour price).

The cost of an excursion with a personal guide for 1 person

Quay at Radisson Collection Hotel

Government Headquarters ("the White House")

Kievsky Railway Central

Novodevichy Convent

Luzhniki Stadium

Academy of Sciences

Monument to Peter I

Cathedral of Christ the Saviour

Moscow Kremlin

St.Basil's Cathedral

Novospassky Monastery

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